Video ad network Vungle raises $6.5 million in funding, reaches 2 billion video views
Video trailer advertising service Vungle has today announced a new company milestone, as its ad network has received over 2 billion video views since the company launched last year. Vungle also announced it has raised $6.5 million in Series A funding, led by Crosslink Capital. The funding brings the total invested in the company to $8 million.
Vungle offers propriertary technology for iOS and Android developers that wish to expand on the growing popularity and effectiveness of video ads. The platform allows developers to monetize their apps through 15-second HD video clips that integrate quickly into each app. Vungle ensures that videos play quickly, eliminating user frustration that may occur if videos hang or don’t load due to slow connections.
“Mobile video advertising is at the center of two huge trends – people spending more time on mobile than on TV or computers, and mobile users becoming increasingly sophisticated and demanding experiences that involve sound and motion – not just static banners,” said Zain Jaffer, chief executive officer and co-founder of Vungle, via a company release. “As the leader in in-app video advertising, Vungle gives app developers and publishers the tools to capitalize on those trends. We want to enable developers to monetize by providing users with amazing mobile video experiences.”
Video ads already have a successful track record for developers, and are responsible for higher click-through rates and conversions than static banner ads. They are becoming increasingly popular among advertising agencies and developers, with SponsorPay launching its own video mediation platform at the first of the month (as just one example).
Vungle will use its latest funding to hiring new staff and build additional technology for the platform.