New York City-based video advertising startup Genesis Media has raised $3 million in Series A funding.
The round was led by digital media holding company Black Ocean (which had previously invested) and ad tech investors Samstella. In the funding press release, Black Ocean’s Oliver Ripley says the startup is “maturing beyond its years in developing innovative online video advertising tools.”
Genesis Media was created by the merger of AdGenesis and TVGenesis in November (given the names, how could they not merge?). Back when we wrote about AdGenesis last year, we described it as “the Match.com of video advertising” because of its efforts to pair the right video with the right viewer.
Publishers currently in the Genesis Media network now include Fox, Parade, and Conde Nast. The company says it now reaches more than 150 million consumers, and that 15 million U.S. users have opted in to its video ad platform. Genesis Media also claims to have a 7 percent clickthrough rate when brands are matched to consumers, 80 percent completion rates, and 20 times more engagement than traditional video pre-rolls.
Genesis Media is building a new generation of payment platform which uses attention rather than credit cards for payment.
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