The in-video advertising technology producer will use the Unilever-backed round to scale its technology and form new content partnerships.
UK-based video advertising technology provider Mirriad Advertising has closed a $15m round that included Unilever Ventures, consumer product manufacturer Unilever’s corporate venturing unit.
Intellectual property investor IP Group and investment management firm Parkwalk Funds co-led the round, which was closed in January and announced by Mirriad yesterday.
Founded in 2008, Mirriad has developed technology can be used by businesses to digitally insert their brands into content by embedding products, signage or video. A billboard appearing in the online version of an existing TV show could for instance be changed to feature the advertiser’s brand.
The funding will be used to scale Mirriad’s technology and to form content partnerships with entertainment and media companies across major markets. It has already worked with broadcasters in 20 countries.
Media company STV and venture capital firm Oxford Capital Partners invested an undisclosed sum in Mirriad in 2010, after it had raised £4m ($5.7m at current exchange rates) from London Seed Capital, Oxford Technology Management, South East Growth Fund and private investors led by Seraphim Capital.
Asia Today, a subsidiary of India-based media and entertainment group Zee Entertainment Enterprises invested £3m in Mirriad in 2013 as part of a £3.6m round. According to its website, Parkwalk invested undisclosed sums in the company in May and December 2015.
Mirriad’s technology was originally developed at Surrey University.
– This article was first published by our sister site Global Corporate Venturing.
