Northgate Capital, a venture firm which is majority owned by India-based financial services group Religare Enterprises, has invested in a $20m round raised by TubeMogul, a US-based video marketing company.
Northgate was joined in the C round for California-based on December 20 by venture firms Trinity Ventures and Foundation Capital.
Northgate managing director Tommy Vardell will join TubeMogul’s board
The round takes TubeMogul to $35m raised to date.
Vardell said: “TubeMogul has built a platform which offers significantly greater creative freedom to brand advertisers, and which eliminates the waste and inefficiencies of video advertising. “This has the potential to materially change the brand advertising business, regardless of whether an ad is watched on television, a computer, or a tablet.”
TubeMogul has also been reportedly backed in the past by Knight’s Bridge Capital Partners.
The deal follows Northgate backing US-based social data company DataSift’s $15m series B in November. Northgate was joined backing DataSift by venture firm Scale Venture Partners, which led the round, and venture firm Daher Capital.
Also in October Northgate helped US-based IT infrastructure company Scale Computing raise $12m in series D funding led by venture firm Heron Capital Venture Fund. The round was also backed by venture firms Allos Ventures, CID Equity Capital, Spring Mill Venture Fund, Benchmark Capital Partners and Scale Venture Partners.