TidalTV, Baltimore video ad startup, raises $30 million
Big news in Baltimore startup land today:
TidalTV, founded by Scott Ferber (left), who co-founded Advertising.com in 1998, announced that it raised $30 million in new financing from investors -- an amount that nearly doubles the $16 million the company raised in 2009.
The investment round was led by New Enterprise Associates, with involvement from existing investors Comcast Interactive Capital and Valhalla Partners.
TidalTV said in a statement today that it plans to use the increased funding to "support the aggressive expansion of TidalTV’s technology into new global markets throughout 2011 and the deployment of its proprietary ad decisioning solutions into new multi-screen applications for advertisers, media agencies and publishers."
TidalTV's technology helps serve targeted advertising to mobile and online video watchers.
The company cited industry estimates from eMarketer, which showed eMarketer estimates that "by 2015, 76% of internet users, or 195.5 million people will be watching online video each month. In the same period, it predicts online video advertising spending will surge from $1.97 billion to $5.71 billion."
The technology that underpins TidalTV appears to be heavily guided by mathematics and science -- a quantitative approach that Scott Ferber, and his brother John, brought to Advertising.com, which is now owned by AOL.
The Ferber brothers sold Advertising.com to AOL in 2004 for nearly a half billion dollars.
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