Funds will fuel product innovation and add go-to-market capacity for market expansion, widening company’s competitive gap
NEW YORK – SundaySky, the creator of SmartVideo, today announced it has raised $20 million in a Series C investment round led by Comcast Ventures. Liberty Global Ventures, Vintage Investment Partners, and existing investors, Carmel Ventures, Globespan Capital Partners and Norwest Venture Partners (NVP), also participated in the round. With this investment, SundaySky will accelerate growth and scale by expanding go-to-market capacity in existing and new geographies, and strengthening new product innovation to further its competitive advantage. Andrew Cleland, managing director of Comcast Ventures, will join SundaySky’s board of directors, where he will lend his experience and expertise in consumer Internet solutions, including digital media and advertising technology.
This new funding comes at a key moment in the company’s growth; SundaySky doubled its staff in the last 12 months, tripled revenues in 2012, and expects that growth to continue in 2013. In the last 12 months, SmartVideo views have grown more than 200 percent to 140 million, spanning ecommerce, telecommunications, insurance, banking and travel industries – with more than half of those views attributed to SmartVideo Advertising programs.
“This milestone highlights SundaySky’s success in establishing and leading the smart video category and a new paradigm for how businesses engage with their customers,” said Shmulik Weller, CEO of SundaySky. “All of our investors share a commitment to our mission to capture the vast market opportunity for personalized video and innovate ahead of the competition.”
Leading customer-centric brands are adopting data-driven acquisition and engagement strategies by adding SmartVideo to their marketing portfolios to deliver more engaging and effective experiences to their customers. SundaySky SmartVideo is the only truly personalized, real-time and infinitely-scalable platform with sophisticated built-in analytics, allowing brands to measure and optimize performance at multiple touch-points.
“Comcast Ventures is a believer in disruptive digital marketing innovation, particularly as CMOs boost technology investments and seek to develop more direct, personalized relationships with customers,” said Andrew Cleland, managing director of Comcast Ventures. “SundaySky sits at the intersection of these trends, combining rich creative experiences with big data, and we’ll support a world-class team building a clear category leader.”