Adap.tv – B Round

Adap.tv, a Gemini portfolio company, announced today the completion of a B round. The $13M round was lead by Spark Capital. Redpoint and Gemini also participated. Here is the direct quote from Dennis Miller, who is joining the board from Spark:

"Amir and his team have created a technology platform that addresses key pain points for publishers of online video as well as online ad networks. By removing roadblocks that have prevented the growth of online video advertising, Adap.tv OneSource has the potential to open up vast new areas of monetization, and is rapidly delivering on that potential."

I agree with Dennis. I think OneSource is a killer product, because it focuses on helping the publishers manage their advertising campaigns, giving more visibility AND better financial results.

With the current financial turmoil, this round is a critical step for the company. Adap.tv can now focus on building the business, and leveraging a strong balance sheet to gain market leadership. Overall, I think Adap.tv is the perfect venture investment: Big market (video monetization), great team, and strong underlying technology/product.

More on this round on NewTeeVee, Venture Beat, and Techcrunch.