• March 28, 2005

Invidi Technologies Corp., developer of an addressable cable TV advertising infrastructure, today said it secured $16 million in venture capital financing, bringing the total amount raised to $28 million in 14 months. The company said it would utilize the funding to "aggressively" deploy its Advatar addressable TV advertising system throughout the cable industry. The company has spent much of the past year developing relationships with cable operators and ensuring that its technology, based on a patent owned by Sarnoff Corp., works with various digital set-top devices. Recently, Invidi announced that four ad industry vets - GM MediaWorks' Rick Sirvaitis, Carat's David Verklin, former J. Walter Thompson Chairman Burt Manning and Ionic Marketing's Michael Kubin - have been named to its board of advisors in an effort to raise its profile on Madison Avenue. The new financing comes from InterWest Partners, Menlo Ventures, EnterTech Capital and BDC Venture Capital. -- J.M.