Google confirmed today that it lead a $23 million round of financing for Invidi. Google has sold TV ads for a few years, which makes Invidi’s specialty in systems that enable TV ad sellers to distribute ads to select groups of viewers that much more appealing.
“Google and GroupM share our vision that addressability will transform television advertising by increasing effectiveness and eliminating wasted reach,” said Invidi CEO David Downey. “They want to play an active role in shaping this revolution.”
As a result of this investment, Google and Invidi will work on “unspecified projects of mutual interest.” Also, director of product management for Google TV Ads and YouTube Ads Shishir Mehrotra has joined Invidi’s board of directors.
“Invidi Technologies is actively advancing the growth of addressable technologies, which brings more relevance to TV viewership and advertising,” Mehrotra said. “We’re happy to join Invidi’s investors, and we’re looking forward to seeing continued progress in this space.”
