TV ad startup Invidi has secured over $23 million in series D funding led by Google, with GroupM, Motorola Ventures, Menlo Ventures, InterWest, and EnerTech Capital, Westbury Equity Partners, BDC Capital participating in the round. The Business Insider broke the news yesterday evening.
Invidi provides software applications that track targeted advertising and offers a digital set-top box application that delivers targeted advertising and marketing messages to individual viewers. The technology also facilitates the sales of digital products, digital tiers, and digital services, such as VOD, PVR, and pay-per-view events; Internet, voice, and wireless services; and triple play offers.
In conjunction withe the funding, Shishir Mehrotra, Director of Product Management for Google TV Ads and YouTube Ads, has joined Invidi’s board of directors. In addition to its investment in Invidi, Google has committed to working with the startup on a number of products relating to TV advertising. Of course, it is expected that Invidi’s technology could be integrated with Google’s development of an Android-based software for TVs.
Founded in 2000, Invidi currently has distribution agreements with Dish Network and DirecTV. Invidi’s technology was recently tested in Comcast’s Baltimore, MD, system with Starcom MediaVest, and the trial showed addressable ads to be 65% more efficient and 32% more effective.