VidCrunch, a web and app video content-based monetization provider and a Google multiple customer management partner, secured a multi-million-dollar financing facility from Silicon Valley Bank to its global sales team, enhance its engineering resources and continue its ongoing investments in product development, content curation and creation for its publisher portfolio. The investment provides an additional layer in the company’s financing on top of the $2 million already secured by angel investors.
“VidCrunch saw tremendous success in APAC and Europe, serving premium publishers like CNN Philippines, Manorama Online, GMX.net, Web.de, Mail.com and others. Because of our investments in monetization technology, content curation and our multiple customer management partnership with Google as well as other SSP and DSP partners (including Comcast, Verizon, PubMatic and Unruly) and agencies, we are growing our business at rates much higher than the overall industry,” Oded Pelled, executive chairman of VidCrunch, said. “These solutions ensure we stay ahead of the increasingly complex needs of both our publishers and advertisers. We found a great financing partner to work with in SVB. Their clear understanding of the ad tech industry makes them an ideal partner to grow with, enhancing our presence in Europe, APAC and the U.S.”_x000D_
“We’re pleased to provide this credit facility to VidCrunch as the company continues to expand to more publishers in more territories with an exceptional retention rate,” Josh Mackey, vice president of Silicon Valley Bank, said. “Our goal is to provide the company with the right financing, connections and global services it needs to be successful.”
