Carambola raises $4M from Pitango. New York offices set to open
The Israeli startup brings added revenue real estate to OTT with a user friendly mindset
sraeli startup Carambola announced today (Wenesday) the completion of a $4 million series A round, led by Pitango Venture Capital. Current investors, 2Bangels, Plus Ventures and Rutledge, also participated in the round. Carambola intends to use the funds to expand R&D efforts and push for greater US market penetration.
OTT and un-obstructing monetization
Carambola is a platform that creates a meta layer of relevant content over a video clip. For example, in a video about food, users can open up a meta layer of content offering additional recipes, or while watching a movie trailer users can see information about the actors in the film and even buy tickets to go see it. In fact, Carambola analyzes the content in the video and creates layers of enriching content that may include games, articles, products – all related to the specific video for which they appear.
Carambola takes a unique approach to Over The Top (OTT) video platform monetization. Instead of placing ads at the beginning or end of a video clip, Carambola maximizes the hidden ad space that lies within the duration of the video itself. Their approach doesn’t cannibalize existing methods of advertising but rather runs parallel to them. For a publisher, more advertising space means more potential profit. For the advertiser, their target viewers will be able to call up relevant content related to the video, only if and when they choose to do so.
Carambola’s CEO Yuval Brener put it this way: “We strive to be an integral part of the video viewing experience. While for users it’s an enriched viewing experience that’s more fun and interactive, for our publishers and advertisers Carambola’s content layer is a new in-video advertising inventory to monetize on. Video publishers can now own an additional ad inventory and make their users happy – all in the same time. That was unheard off until today.
Ami Beracha, Managing General Partner at Pitango who joins Carambola’s Board, comented on the deal stating, “Carambola represents the latest word in video advertising, an exponentially growing market. Carambola’s platform trigger users to engage with video and enable advertisers to get user’s full attention. We believe in Carambola’s strong team and in the ingenuity lead by the company.”
Carambola was founded in 2011 by Yuval Brener, Roei Bareket and Roey Yaniv.The company holds offices in Israel and New York. This latest round of funding brings the companies total investment value to $5M.