New TV advertising solutions provider BlackArrow has landed $20 million in a Series C financing round led by strategic investor NDS Group, a provider of technology solutions for digital pay-TV, and included existing investors Cisco Systems, Comcast Interactive Capital, Intel Capital, Mayfield Fund and Polaris Venture Partners. BlackArrow also announced it had formed a strategic alliance with NDS to offer an integrated suite of advanced advertising solutions and services. NDS will get a seat on BlackArrow's board.
BlackArrow said the VC funds would be used to expand product development and accelerate the deployment of the BlackArrow Advanced Advertising System to programming networks and on-demand television content providers across North American and international markets.
"We have aligned ourselves with partners and investors that not only share BlackArrow's vision but also stand behind us by providing a firm financial platform that ensures our ongoing success," said Dean Denhart, CEO of BlackArrow. "This investment further solidifies our long-term ability to help operators and programmers monetize on-demand content globally by leveraging the international expertise, footprint and complementary technologies of NDS, while assuring continued traction and execution in the marketplace."
The BlackArrow Advanced Advertising System addresses the complexities of advertising in on-demand environments--from Internet video to intricate cable and operator infrastructures. The BlackArrow Sales Suite enables national and local ad-sales organizations at media companies and cable operators to define, manage and fulfill multiplatform, multioperator advertising campaigns.
- see this release
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