Video ad network Vdopia raises $3.4 million in series B

In Deal Flow by NextBigWhat

Video advertisement delivery company Vdopia has raised $3.4 million in a series B round, according to a filing with the Securities and Exchange Commission (SEC).

The Silicon Valley based company is looking to raise a total $7.4 million, out of which only $3,391,862 (total amount sold) has been raised from investors.

Vdopia’s platform, which is used by brands such as HP, eBay and Idea Cellular among others is raising this capital through Series B preferred stock which is convertible to common stock.

Vdopia had raised $4 million from Nexus Venture Partners in October 2009, after raising an undisclosed amount in seed round in 2008.

Vdopia  delivers solutions for publishers with efficient integrations to monetize inventory for publishers and app developers.  In India Vdopia has clients such as NDTV , ICICI, Rediff.com, IBNLive, CricketNext, Zapak and BigFlix including several others.

The company was founded by Stanford and IIT graduates with sales and development offices at San Jose, CA, Gurgaon and Mumbai in India. It’s  proprietary Brandconnect ad technology combines the advantages of TV and Internet to serve advertisements.

Last month, mobile video and media company Vuclip raised $13 million in Series D funding led by SingTel Innov8, a new strategic investor, and existing investors NEA and Jafco Ventures.