Goldman Sachs Backs Video Advertising Startup Innovid With $30 Million Investment
Innovid lists Disney, Fox, Bank of America, and Loreal among its customers
Goldman Sachs backed New York-headquartered video advertising startup Innovid Inc. with a $30 million investment, Innovid announced Monday. Innovid intends to use the capital injection to invest in smart TV technologies, and expand its global footprint, Innovid co-founder and CEO Zvika Netter said in an interview with Calcalist Monday.In 2017, Innovid acquired real-time data intelligence company Taykey, Inc.
Founded in 2007, Innovid partners with brands and ad agencies to deliver videos to connected TVs, mobile devices, and social platforms. Innovid lists Disney, Fox, Bank of America, and Loreal among its customers.
It employs around 220 people in Israel, India, Los Angeles, San Francisco, Chicago, Detroit, London, Sydney, and Tel Aviv. Innovid has raised more than $95 million to date, according to Pitchbook data.
Zvika Netter, CEO and co-founder of Innovid. Photo: David Paxton
Netter said the company may pursue further acquisition opportunities.