CTS Media, a Shanghai company that provides advertising within videos, said it has raised $8 million in a second round of funding.
The round was led by Steamboat Ventures, the venture arm of Walt Disney, and was joined by Draper Fisher Jurvetson and existing backer Sequoia Capital China, which led the first round. The three investors recently invested together in Chinese online video company, UUSee, so it makes sense they’d seek to want to monetize the videos with ads — and hence, perhaps their backing of CTS.
CTS has now raised about $11 million. Here’s the full statement.
In March, Steamboat, DFJ and Sequoia joined with Highland Capital Partners and Susquehanna International Group to invest $23.5 million in UUSee.