TubeMogul, online video's most popular distribution and analytics service, today announced it has received $3 million in Series A funding from Trinity Ventures. The funding will be used to fast-forward growth of TubeMogul's video distribution platform and accelerate standardization of its online video analytics.
"We invested in TubeMogul because we saw the potential of a viable business model, a solid product with a growing customer base at this early phase. However, it is my relationship with the executive team that that reminds me why I love what I do, helping passionate entrepreneurs fundamentally change an industry," said General Partner from Trinity Ventures Ajay Chopra, who will join TubeMogul's board. "TubeMogul has the team, vision and product to drive a fundamental change in the way online video is monetized."
"We are thrilled to be partnering with a world-class venture firm like Trinity Ventures whose reputation as a value added partner is well known among entrepreneurs," said Brett Wilson, TubeMogul CEO and co-founder. "To have Ajay on our board who was also a successful entrepreneur and passionate about winning this is space is invaluable."
TubeMogul is on track to be cash-flow positive by the fourth quarter of 2009. "Since the company's founding, TubeMogul has hit every single one of its revenue targets, and this one should be no different," said Dave Toth, co-founder of NetRatings and a TubeMogul board member and early investor. Other early investors include Knight's Bridge Capital Partners.