AVCJ

Fortisure leads Series C for Indian ad tech player

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Jivox, an advertising technology company with operations in India and the US, has raised $5.8 million in Series C funding led by existing investor Fortisure Ventures. Shah Capital also participated, as did existing investors Opus Capital and Helion Venture Partners.

The proceeds will be used to support sales and marketing and for product development.

Founded in 2006, the company's flagship Jivox IQ platform allows agencies and publishers to produce data-driven ads, while its BrandGage real-time analytics platform enables campaign performance tracking, demographic analytics and purchase intent analytics.

Dia Nesamoney, Jivox's CEO, said in a statement that interactive adverting is going through a dramatic change as consumers move from using desktop computers to tablets and smart phones.

"Legacy ad platforms have been unable to cater to the need for brands to deliver interactive ads across screens due to their dependence on Adobe Flash technology. This is creating a tremendous demand for HTML5 based multi-screen ad platforms like Jivox," he added.

According to AVCJ Research, the firm received $10.7 million from Opus and Helion in 2008. Two years later, the two investors committed a further $4 million. In 2011, San Francisco-based Fortisure Ventures led a reported $8.2 million round, with participation from Opus and Helion.

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