It’s the second startup in a week with an eight-digit round that creates automatic custom ads for every visiting customer online
Video ad company Eyeview scored $21.5 million, the company announced on Wednesday. It was the second major round by a company producing automatic, individualized ads in the last week.
The Series D round was led by Israel-based Qumra Capital with investments from Marker LLC, Innovation Endeavors, Nauta Capital, Gemini Israel Ventures and Lightspeed Venture Partners. That brings their total fundraising haul to $56.8 million according to the company.
“Today’s marketers must prove a measured return in sales on every dollar they spend and we have shown that video can do more than simply generate awareness and brand equity,” said Eyeview Co-Founder and CEO Oren Harnevo in a press release.
As generic a statement as that it is, it picks up on what might be the only thriving sector of online advertising right now: videos. Not only that, it blends with the trend of personalizing online ads and bringing video commercials into a (more) affordable strategy.
Their software, dubbed VideoIQ, generates videos based on location, client preferences and other metrics to create videos automatically for individual customers. One of their campaigns, described on their website, was for a local car dealer which asked to include local weather considerations in what content those videos had.
Last week, a similar company called SundaySky raised $30 million for its software package called SmartVideo. Those automatically generated videos also draw on similar information points like location, and “the appropriate messaging and means of engagement.”
For now, Eyeview’s technology largely targets bigger brands that can afford to pay. They list Lowes, Priceline, Walgreens, P&G and even Honda and BMW among their clients.
Founded in 2007 and with $58 million in total funding raised to date, Eyeview maintains its headquarters in New York with offices in Los Angeles, Chicago, Detroit, and Seattle.