Helion, Opus reinvest digital video ad network Jivox
Online video advertising shop Jivox has received a $4 million investment from Opus Capital and Helion Venture Partners, as part of a second-round fundraising exercise that brings its total VC investment to date to $15 million.
The two investors already contributed $10.7 million to Jivox in 2008 in a Series A funding round. According to reports citing Jivox India's MD Naren Nachiappan, the company hopes the recent investment will render Jivox operationally profitable in the near future. Jivox, which is based in San Mateo, Calif., and has operations in Bangalore, targets the US and India's digital ad market. It will reportedly use its funds to bolster its sales and marketing activities to expand into new markets, including Europe.
According to reports, India's online ad market is worth an estimated $300 million while its online video sector represents roughly $30 million.
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