VOD Ad-Insertion Vendor This Technology Raises $7.5 MillionCompany Announces Comcast, NBCU, Verizon, ABC as Customers 11/15/2012 2:05 AM Eastern
This Technology, a provider of software that enables dynamic ad insertion for video, announced a $7.5 million series A financing round led by General Catalyst Partners, and also touted wins with four major customers: Comcast, Verizon Communications, NBCUniversal and ABC.
The New York-based company, founded in 2006, said it will use the funding for general corporate purposes, including expanding development and support resources. In May, This Technology announced that Genovation Capital general partner Jeff Binder had taken a stake in the company and joined its board.
With the latest funding round, General Catalyst managing director Neil Sequeira has joined the company’s board of directors.
“As a self-funded startup, This Technology brought a smart mix of products to market, proving itself viable to an extremely discerning customer base and achieving profitability,” Sequeira said in a statement. “This is exactly the kind of entrepreneurship and track record we look for when making a growth equity investment and we’re confident that additional resources will enable This Technology to continue delivering innovative solutions that will dominate the market.”
As of last month, This Technology had 14 employees, after hiring 10 this year and opening an office in Denver.
“This Technology has its customers to thank for creating an environment where a bootstrapped company like ours could learn, grow and thrive based on having the right ideas and a solid execution strategy,” This Technology CEO Jeff Sherwin said in a statement. “General Catalyst Partners has a long history of successful investments in video-related technologies and the important industry expertise that makes them an ideal partner for This Technology as we continue to grow the company.”
Its recent recruits include: vice president of engineering John Mick, formerly with Cisco Systems; vice president of sales Sean Rooney, previously with BigBand Networks and Motorola Mobility; and vice president of software architecture Bryan Santangelo, formerly with Time Warner Cable.
This Technology’s products include interconnect software and applications to let programmers and TV operators manage metadata and ad space. The products support VOD, network DVR, IPTV and mobile devices, with the ability to manage dynamic ad insertion across multiple platforms.