"The key challenges for content owners, publishers and advertisers are managing, distributing and effectively monetizing premium video. The Auditude team has done an amazing job of building this business and we're going to leverage the strong momentum to become the de facto monetization platform for IP-based video."
In connection with this financing, Chris Hollenbeck, managing director at Granite Ventures, has joined Auditude's board of directors. "I'm thrilled to join the great slate of investors in Auditude. I've received resoundingly positive feedback from leading content owners and websites about the strength of Auditude's team and technology platform. The company is well positioned to be a leading force as the $100 billion TV ad market continues to shift online."
This new capital will support the continued growth of Auditude's industry-leading technology, including further expansion into mobile video, IP-enabled devices and premium distribution channels. The Auditude platform currently manages billions of monthly premium video impressions, with world-wide clients such as Comcast, Dailymotion, Dick Clark Productions, Fox News, Lionsgate, Major League Baseball, UK's Channel Five, Sony Music, Starz Media, Universal Music Group, World Wrestling Entertainment, Yahoo!, and others. These clients are served by a world-class team drawn from leading technology and advertising companies such as Doubleclick/Google, OpenDNS, and RightMedia/Yahoo!
"The explosive growth and opportunity in IP-based video is unquestionable," said Helfand. "The key challenges for content owners, publishers and advertisers are managing, distributing and effectively monetizing premium video. The Auditude team has done an amazing job of building this business and we're going to leverage the strong momentum to become the de facto monetization platform for IP-based video."
Prior to joining Auditude, Helfand was the president at United Online Media Group. In this role he managed all advertising and partnership revenue for United Online (Nasdaq: UNTD), including the launch of its audience platform, Adcurate. Previously, he served as senior vice president and general manager of Advertising.com, now a division of America Online, Inc. During his six years at Advertising.com, Helfand implemented revenue strategies that contributed to more than a six-fold increase in revenue. Helfand served on the Advertising.com executive committee charged with the strategic vision that eventually led to the company's almost $500-million acquisition by AOL/Time Warner.
Helfand takes the reins from Adam Cahan, who has led Auditude as CEO for the past three and a half years, and will continue to serve as an advisor. Under Cahan's direction, Auditude has assembled a world-class global team, attracted blue-chip customers and investors, and built an industry-leading technology platform. Cahan is moving into a new role as CEO of IntoNow, a technology startup also backed by Greylock Partners and Redpoint Ventures.
"I'm excited to leave Auditude in the capable hands of Jeremy, who brings the right vision and experience to guide this company and our team to continued industry leadership," said Cahan. "With this team, technology and funding in place, Auditude is in the best position to lead the market as the worlds of television, online and mobile converge."
