Dynamic ad insertion software provider for TV Everywhere, IPTV, nDVR and VOD closes growth equity financing round based on profitability, solid customer roster and continued growth; customers include Comcast, Verizon, NBCUniversal and ABC.
NEW YORK CITY – NOVEMBER 15, 2012 – This Technology, Inc., a leading provider of software solutions for dynamic video advertising insertion (DAI), today announced a $7.5 million Series A financing round. The financing, led by General Catalyst Partners, follows This Technology’s success in developing a market-defining product portfolio and demonstrating continued profitability based on an expanding customer base, which includes Comcast, Verizon, NBCUniversal and ABC. In parallel with the financing, General Catalyst Partners’ Neil Sequeira has joined the company’s board of directors. This Technology will use proceeds from the round for general corporate purposes, including expansion of the company’s market leading development and support resources.
“As a self-funded startup, This Technology brought a smart mix of products to market, proving itself viable to an extremely discerning customer base and achieving profitability,” said Sequeira. “This is exactly the kind of entrepreneurship and track record we look for when making a growth equity investment and we’re confident that additional resources will enable This Technology to continue delivering innovative solutions that will dominate the market.”
Consumers are watching their favorite content on an expanding lineup of services that include video on demand (VOD), TV Everywhere, nDVR and IPTV. Service providers and programming networks face major challenges inserting ads into these services in real-time, making offered content difficult to monetize. This Technology’s products seamlessly connect video operations and advertising architectures so service providers and programming networks can communicate in real-time about content and advertising availability. This streamlines the process of serving both local and national content and ads to consumers on any device.
Founded in 2006, This Technology recognized early the challenges that would plague ad delivery for time-shifted, IP-based and multiscreen video services. From the beginning, the company has helped solve these challenges through open, non-proprietary solutions that can be easily deployed in any standards-based ad architecture. This funding round builds upon the company’s strong momentum, including the recent opening of an office in Denver and addition of new executives to its growing team.
“This Technology has its customers to thank for creating an environment where a bootstrapped company like ours could learn, grow and thrive based on having the right ideas and a solid execution strategy,” said Jeffrey Sherwin, CEO, This Technology. “General Catalyst Partners has a long history of successful investments in video-related technologies and the important industry expertise that makes them an ideal partner for This Technology as we continue to grow the company.”
For more information about This Technology, visit www.thistech.com.
About This Technology, Inc.
This Technology, Inc. gives cable operators and programmers complete visibility and control over digital content and advanced advertising inventory. The company’s software products provide metadata management, ad space management and interconnect software. All products are platform agnostic and cost-efficient, allowing advertising rights holders to define and control their supply of content and advertising opportunities. With support for VOD, network DVR, IPTV and mobile devices, This Technology empowers the advertising industry to efficiently manage dynamic ad insertion across all new video applications where management of shared inventory is a core business requirement. For more information about This Technology, visit www.thistech.com.
About General Catalyst Partners
General Catalyst Partners is a venture capital firm that invests in exceptional entrepreneurs who are building the technology-based companies that will lead innovation and transform industries. Founded in 2000, General Catalyst Partners leverages its principals’ extensive operational, business development and technological expertise to provide portfolio companies with a catalyst for success through business-building and partnership development assistance. General Catalyst has offices in Cambridge, MA and Palo Alto, CA. For more information, please visit: http://www.generalcatalyst.com.
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