Watchwith recently closed an $8 million “B” round that included help from existing investors Rogers Venture Partners and Samsung, as well as new investor, Arris, the maker of video, ad-tech and broadband gear and software.
The new round takes Watchwith’s total funding beyond $13 million.
Watchwith, founded in 2012, said it landed the new funds as it helps its TV network and programming partners build “new premium video advertising inventory” without beefing up the pre-roll or mid-roll ad load.
The investment comes on the heels of Watchwith’s intro of an in-program, “contextual” ad platform that can be delivered to IP-connected set-tops, TVs and mobile devices. Watchwith developed the platform, which enables programmers to offer interactive ad avails within shows at pre-set trigger points, amid a trend in which viewers have increasingly become “trained” to have access to ad-free content.
Watchwith, which views this as a new type of ad inventory, has integrated that cloud-based system with technology from Arris that suggests the best spot to place these interactive, in-program ad overlays.
Watchwith’s customers include Fox, NBCUniversal and Viacom.
“Watchwith is trailblazing a significant net-new revenue opportunity for premium TV programmers,” said Mike Lee, general partner, Rogers Venture Partners, in a statement. “And at the same time, the company solves a critical problem for short-form video content owners in need of alternatives to pre-roll advertising. The company is at the forefront of native video monetization”
An addition to the fresh funding, Watchwith also announced that Brendan Moorcroft, a programmatic advertising pioneer and former CEO of Cadreon, has joined its board.