With the investment, Joan Gillman, Time Warner Cable president, media sales, will join BlackArrow's board of directors.
Other investors include Comcast Interactive Capital, Intel Capital and Motorola Mobility. The Time Warner Cable investment completes a funding round that has raised up to $27 million.
"BlackArrow has played an invaluable role in accelerating dynamic VOD ad insertion and is well-positioned to be a growing part of the ad ecosystem," Gillman stated. She called the investment a commitment to "supporting our partners as the industry continues to develop new business and advertising models across a broad spectrum of television distribution platforms and devices."
BlackArrow is involved in an industry initiative to bring scale to advertising in free VOD, with programmers, advertisers and the 4As involved.
Dynamic ad insertion allows new ads to be slotted into a VOD stream during a program's time housed on a menu.