Teads, a video advertising platform, today announced a new round of financing amounting to £20million. Half of the money was raised from an increase in capital, while the other £10 million takes the form of a mid-term line of credit.
Pierre Chappaz, Teads’s Executive Chairman, said, ‘This new investment will allow us to speed up the company’s growth on a global scale.” He added that the investment would be spent on technology innovation, continued expansion into the United States market, as well as on entering new markets including Brazil, Russia, South Korea and Japan.
Teads, which specialises in outstream formats, has carved out a niche for itself by offering video ads to publishers than can be embedded within editorial content. The formats have proven popular with traditional publishers, many of whom are still struggling to create large volumes of video inventory using pre and mid-roll video advertising. Advertiser concerns around viewability have also worked in Teads’s favour, due to the ‘view to play’ nature of the format. Teads currently works with The Telegraph, The Guardian, The Washington Post, Reuters, Forbes, TF1, Le Monde, Le Figaro, Les Echos, ABC, La Stampa, Axel Springer, Conde Nast, Nikkei and O Globo.
Teads – which merged with Ebuzzing last year – now has 350 employees across 25 offices worldwide and achieved an estimated revenue of close to £63.5million in 2014, an increase of 65 percent on 2013 £38.6 million). The company also says that 180 new hires are planned in 2015.