Los Angeles-based video data platform Iris.TV announced Wednesday that it raised $18 million in a Series B round led by Intel Capital.
Following the raise, the company will continue to invest in developing API tools that enable video-level data targeting for connected television (CTV) and online video.
CTV is an industry term used to describe any television or device that’s used to stream video over the internet. To provide a few examples, CTVs cover gaming consoles, smart TVs and connected devices like Amazon Fire Stick, Apple TV and Roku.
Videos are complex data assets that typically live in siloed databases or remain locked behind a company’s content management system. This creates a special problem for advertisers who need to access watching data in order to make informed decisions. Iris.TV harvests watching data so that content owners, publishers and broadcasters can target consumers with ads that are more closely aligned to the content they’re consuming on web, mobile and CTV.
By making video-level data accessible to all, Iris.TV hopes that its marketing users can increase their yield and more effectively invest in new content.
“Marketers and advertisers who utilize video-level data increase ROI on every dollar invested in video by ensuring their brand messages are shown alongside premium, brand-suitable video content,” Field Garthwaite and Richie Hyden, co-founders of Iris.TV, said in a company blog.
Over the last year, Iris.TV’s install base has grown from hundreds of publishers to more than 7,000, according to the company.
“We started from humble beginnings working with video publishers to build large loyal audiences. We did this work to build the best video recommender API on the web,” Garthwaite and Hyden continued. “Fast forward to today, we’ve expanded our API integrations to provide universal access to video-level contextual data on our platform.”
Iris.TV plans to prioritize strategic partnerships as it continues to scale. Hiring will also remain a top priority for the company; three positions are currently listed on its careers page.
Iris.TV has raised $24.1 million in venture capital financing to date, according to Crunchbase.
Quest Venture Partners, Wise Ventures and Mirae Asset Venture Investment participated in the round, among others.
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