ScanScout lands $8.5M second round
(Update: This story originally and incorrectly listed EDB as the sole investor in this round.)
A group of investors including EDB Investments in Singapore, Time Warner, General Catalyst Partners, and First Round Capital have committed $8.5 million to Boston-based ScanScout.
Not everyone seems to know this: There’s a sort of Silicon Alley for online advertising based in Boston, not far from the Harvard and MIT R&D communities.
Swee-Yeok Chu, CEO of EDB Investments, said in a prepared statement, “With its novel underlying technologies and the strong growth of online videos in the industry, we look forward to ScanScout expanding its international footprint and growing new capabilities in Singapore as its global launch point in Asia.” Those novel technologies are for pre-roll and overlay ads. ScanScout can add interactive elements into the videos, giving the consumer something to do other than just watch the ad. Watch these demos to get the idea.
Next Story: Motorola’s Droid phone will arrive on Nov. 6
Previous Story: Intel and Numonyx report a breakthrough in new kind of memory chip
About the Author, Paul Boutin
Paul (paul@venturebeat.com) covers Apple & the iPhone, social networks & social media, digital music & video, and any crazy Internet story. Paul wrote and edited for Valleywag from 2006-2008, after several years with Wired magazine and Slate. He writes regularly for The New York Times' technology section and sometimes for Wired and The Wall Street Journal. He studied computer science at MIT in the early 1980s, and worked as a software developer and network administrator for 15 years before becoming a professional writer. Follow him on Twitter at @paulboutin, and follow VentureBeat on Twitter at @venturebeat.