Automated online video enrichment platform developer Carambola has closed a $4 million Series A financing round led by Pitango Venture Capital. The company’s current investors, 2Bangels, Plus Ventures and Rutledge, also participated in the round. Focusing on scalable video enrichment, the company’s product enables users to become an integral part of the video viewing experience. Carambola intends to use the funds to open a US office in New York as well as scale up its product offering.
Pitango managing general partner Rami Beracha, who joins Carambola’s Board, said, “Carambola represents the latest word in video advertising, an exponentially growing market. Carambola’s platform triggers users to engage with video and enable advertisers to get user’s full attention.”
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Founded in 2011 by CEO Yuval Brener, CPO Roei Bareket and CTO Roey Yaniv, and headquartered in Ra’anana, Carambola automatically turns any online video into interactive videos, triggering users to actively engage with the Carambola unit which includes articles, tips, trivia questions, merchandise and more – all related to that specific video.
Early this year, AOL announced a collaboration with Carambola, enabling hundreds of thousands of videos from AOL’s massive library to become interactive. The collaboration has expanded, exposing Carambola to millions of viewers every month.
Carambola forecasts that it will reach a massive audience in 2014, collaborating with additional leading video publishers and brands helping them maximize their videos’ monetization potential.
Brener said, “We strive to be an integral part of the video viewing experience. While for users it’s an enriched viewing experience that’s more fun and interactive, for our publishers and advertisers Carambola’s content layer is a new in-video advertising inventory to monetize on. Video publishers can now own an additional ad inventory and make their users happy – all in the same time. That was unheard off until today.
Published by www.globes-online.com