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TidalTV, a video ad technology company, announced today that it has raised $30 million in funding.
The company’s product helps advertisers deliver ads to target demographics across online video, mobile video, and television. TidalTV offers what it calls “zero waste advertising”, where it optimizes the distribution of in-stream ads so companies can reach the market they’re looking for. The company says that if its platform doesn’t allow your ad to reach the audience you want, you get your money back.
eMarketer estimates that by 2015, 76% of internet users will be watching online video each month, and online video advertising spending will increase from $1.97 billion to $5.71 billion.
The round of funding was led by New Enterprise Associates (NEA), with participation from existing investors Comcast Interactive Capital and Valhalla Partners. The funding will be used to accelerate growth, expand into new markets and to deploy new products.
TidalTV, which is headquartered in Baltimore, has raised $61M to date.