Video ad network, Brightroll, today announced it has secured $10M in Series C financing led by Scale Venture Partners. That brings total VC money to $16M to date. True Ventures, Adams Street Capital and KPG Ventures also kicked in.
More interestingly, Brightroll said that it has been profitable for nearly 12 months. Thats genuinely good news for the space as a whole. However, since private companies can simply say they are profitable, we’ll take it with a slight grain of salt. Not that we have any reason to doubt them, other than the general issues that all of the video ad nets have suffered from over the past year or two. Still, whats good for Brightroll is good for the rest of the space as well. Maybe there’s something to this video advertising stuff?
Regardless, congrats to Tod & The Gang on both fronts.