Time Warner Invests In TV Advertising Technology Company BlackArrow

BlackArrow, a provider of advertising solutions for ‘New Television platforms’, this morning announced a strategic investment by Time Warner Cable. Joan Gillman, president of media sales for TWC, has been named to the BlackArrow board of directors.

The cable system operator joins BlackArrow’s impressive list of backers, which includes Cisco, Comcast, Intel Capital, Mayfield Fund, Motorola Mobility, NDS and Polaris Venture Partners.

The Time Warner Cable investment and the Motorola Mobility investment from last November complete BlackArrow’s previously announced Series C funding – bringing the total amount raised in the round from $20 million to $27 million.

BlackArrow says the Time Warner capital will be used for the deployment of its Advanced Advertising System to programmers and New TV content distributors.

The system is designed specifically for the technological complexities and business issues within on-demand television advertising environments.