Ad-tech platform Jivox raises $6 mn from US-based brand-tech firm, others
Bangalore- and California-based Jivox Software India Pvt Ltd, a multi-screen interactive advertising technology company, has raised $6 million (about Rs 40 crore) from investors led by brand-tech group You & Mr Jones and its founder David Jones, former global CEO of advertising conglomerate Havas.
Existing investor Fortisure Ventures and Jivox CEO Diaz Nesamoney also participated in the round, as per a press statement.
The company will use the funds to grow sales and marketing globally and to invest in its market-leading platform, the statement said.
"We view this strategic investment by one of today's frontrunners in digital marketing as strong testament to the strength of Jivox's Bangalore-based R&D team," said Naren Nachiappan, managing director, India, Jivox.
The funding round comes two years after Jivox secured $5.8 million in February 2014 in a Series C round led by San Francisco-based Fortisure Ventures, with participation from Shah Capital and existing investors Opus Capital and Helion Advisors. Earlier, Jivox had raised $8.2 million, led by Fortisure Ventures, with participation from Opus Capital and Helion in November 2011.
Jivox was founded in 2006 by Nesamoney, a BITS Pilani alumnus. The company's Jivox IQ platform enables digital agencies and publishers to produce and deliver multi-screen and data-driven ads.
The firm claims that using its platform, interactive ads can be easily authored and served in-stream, in-banner and on smartphones and tablet devices featuring video, rich media, dynamic content, customisable widgets and social sharing.
It also eliminates the process of traditional code-based approaches and the challenges associated with delivering interactive ads across multiple screens and connected devices.
Its key clients include Bayer, Bose, CondÃ© Nast, Toyota, Johnson & Johnson, REI, Sony, Starcom Mediavest, Time Warner Cable and Universal McCann.
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