Advanced advertising vendor This Technology has wrapped up $7.5 million in equity financing and announced it counts Comcast, NBCUniversal, Verizon and ABC among its customers.
The financing was led by General Catalyst Partners, and This Technology now has Neil Sequeria on its board of directors. This Technology said it would use the proceeds from the round for general corporate purposes, including expansion of the company’s market.
“As a self-funded start-up, This Technology brought a smart mix of products to market, proving itself viable to an extremely discerning customer base and achieving profitability,” said Sequeria. “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.”
It’s been a banner year for New York City-based This Technology, which was founded by CEO Jeff Sherwin in 2006. In October, This Technology announced it was opening a Denver office and that it had added three more executives to its roster. All told, This Technology has hired a total of 10 new employees this year.
This Technology has been gaining traction with its software that connects service providers, ad owners and video programmers across IPTV, TV Everywhere, nDVR and VOD architectures in order to splice in ads. Using elements of SCTE 130, This Technology’s platform streamlines the process of serving both local and national content and ads to consumers on any device.
Among cable operators, dynamic ad insertion (DAI) in VOD has started to take flight, as evidenced by Comcast placing ads on shows from several NBCUniversal networks.
“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,” Sherwin said. “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.”
Last month, Sherwin wrote about DAI in CED’s Open Mic column.