Vungle, a mobile video advertising startup, announced today that it has raised $17 million in a series B round of funding.
Vungle focuses on integrating 15-second high-def video ads that play within mobile apps for iOS and Android.
Increasingly, advertisers are looking at premium video ads because they’re much harder to ignore than display or text ads. This is especially true when it comes to mobile devices. Vungle’s platform ensures those ads play smoothly and without being too intrusive. The company said video ads on its platform are viewed by over 100 million people per month.
The startup said it plans to use the new capital to build a suite of monetization tools for mobile app developers.
The new round was led by Thomvest Ventures with participation from Crosslink Capital, Google Ventures, AOL Ventures, SoftTech VC, and Webb Investment Network. The funding from both Google and AOL makes a lot of sense, considering both are shifting to boost video ad sales. (Google just hired a new head of YouTube to increase revenue, while AOL reported favorable video ad revenue for Q4 thanks to its purchase of Adap.tv.) As part of the funding deal, Vungle is opening up additional offices in Berlin and China.
Founded in 2011, the San Francisco, Calif.-based startup has raised a total of $25.5 million in funding to date.