TidalTV Raised $30M To Enhance Ad Tech, Reach

by , Mar 31, 2011, 1:02 PM
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Video ad technology firm TidalTV raised about $30 million from existing investors, including New Enterprise Associates, Comcast Interactive Capital and Valhalla Partners.

Baltimore-based TidalTV offers video advertising, optimization and yield management services to clients. Its AdOSTM technology uses relevant data to improve ad delivery.

Launched in late 2007, TidalTV has aggressively raised capital to establish itself as a player in the online video business with its one-to-one ad "decisioning" technology. "Our focus on bringing math and science into the branded advertising space has been well received," said Scott Ferber, chairman and CEO of TidalTV.

TidalTV has been described as an outgrowth of Advertising.com, which Ferber founded with his brother before selling the company to AOL in 2004. Ad.com is best known for facilitating the targeting of banner and display advertising.

While competition exists, TidalTV is competing for a share of a vastly expanding market. Indeed, eMarketer estimates that by 2015, 76% of Web users -- or 195.5 million people -- will be watching online video each month. In the same period, the research firm predicts online video advertising spending will surge from $1.97 billion to $5.71 billion.

Last year, TidalTV raised $16 million in venture capital. In turn, Comcast Interactive Managing Director David Horowitz joined TidalTV's board. TidalTV also tapped ad monetization platform Adap.tv to buy inventory sold via the company's online video marketplace. In turn, TidalTV agreed to use its technology on behalf of clients to deliver pre-roll ads.

Will this latest round of funding, TidalTV plans to continue exploring new markets and media channels. In February, the company launched its mobile counterpart.

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