(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 video ad networking ScanScout, which delivers what they call “in-stream” ads that play as part of an online video content clip.
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.