IRIS.TV, a video data platform, has completed an $18 million Series B funding round, which was led by Intel’s venture capital division.
nWISE Ventures, Quest Venture Partners and Mirae Asset Venture Investment also participated in the funding round, which also drew investments from Mike Baker, founder and CEO of dataxu – which was acquired by Roku in 2019; Mike Shehan, founder and CEO of video advertising platform SpotX – which is merging with Magnite in 2021; and Ari Paparo, CEO of ad tech company Beeswax – which was acquired by Comcast in 2020.
IRIS.TV said it will use this latest funding round to accelerate the growth of its video data platform and API tools designed for data targeting for connected TV and online video.
“IRIS.TV is uniquely positioned to capitalize on the tremendous growth in online video viewership and the attendant need for brands and publishers to better monetize existing content in a Connected TV world,” said Marcelino Ford-Livene, managing director at Intel Capital, in a statement. “We are excited to be involved in IRIS.TV’s rapid growth in this emerging sector.”
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"We are thrilled to have Intel Capital as an investor, which will allow us to build the data infrastructure for the future of video and Connected TV," said IRIS.TV CEO Field Garthwaite in a statement. "This investment will allow IRIS.TV to expand operations with a focus on three key areas of growth. First, we’re looking to continue hiring world class talent and developers. Second, we will be expanding our strategic partnerships across the ecosystem to enable marketers and advertisers to utilize video-level data to achieve their business goals. Lastly, we will be investing in new API’s and features to provide the tools publishers, ad platforms, and marketers need to successfully invest in the fast-growing Connected TV space."
IRIS.TV’s video data platform connects video data from multiple sources to digital advertising platforms for analysis, segmentation, and activation by third parties such as Oracle Data Cloud, Comscore, GumGum, ZEFR, Advanced Contextual, and Silverbullet. The company was founded in 2013 by Garthwaite and COO Richie Hyden.