Broadbus Founder Takes Stake In VOD Ad Firm This Technology5/14/2012 10:28 AM Eastern
This Technology, a provider of software solutions for dynamic ad insertion in video-on-demand, announced that Jeffrey Binder, general partner with Genovation Capital and previously founder of VOD systems vendor Broadbus Technologies, has invested in the company and joined its board of directors.
The amount of Binder's investment was not disclosed. He joins existing directors Jim Ramo and Scott Gallin on the board of New York-based This Technology.
This Technology's previous investors include Columbia Business School Lang Fund, Paul Kagan and Ramo. The company also expects to make an announcement later this year regarding an institutional financing round.
"For a company of any size, let alone an early-stage company, This Technology has made extraordinary inroads with MVPDs and programmers," Binder said in a statement. "The fact that the company is working with major operators to roll out a campaign management-agnostic POIS [placement opportunity information service] is a testament to the team's vision and technology."
Continued Binder, "I fully expect This Technology's best-in-class open system to help customers unlock billions of dollars in potential monetization across multiscreen, VOD and [network] DVR, and look forward to working with the company."
Prior to Genovation, Binder most recently was a senior executive with Motorola as general manager of its on-demand solutions group following Motorola's $181 million acquisition in 2006 of Broadbus, where he was CEO.
"Given Jeff's significant contributions to cable, his in-depth understanding of the challenges and opportunities surrounding DAI, and proven ability to evangelize This Technology's market approach, he will play a key role in our continued success," This Technology CEO Jeff Sherwin said in a statement.
This Technology's customers include Canoe Ventures, the advanced-advertising company owned by the six largest U.S. cable operators. Canoe in February announced that it was shutting down its interactive TV operations and laying off 120 employees to refocus on dynamic ad insertion for VOD.