Targeted-Ad Startup BlackArrow Raises $20 Million

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BlackArrow, which is developing multiplatform ad-management video systems, announced it has raised an additional $20 million to further product development, expand distribution platform support and increase worldwide sales and marketing efforts.

The funding brings BlackArrow to $38 million in private financing. The San Mateo, Calif. company’s existing inventors contributed to the round: Cisco Systems, Comcast Interactive Capital, Intel Capital, Mayfield Fund and Polaris Venture Partners.

BlackArrow is pitching an ad-management system that will deliver targeted advertising across multiple user-controlled video services, including broadband video, cable video-on-demand and digital video recorders.

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