Roku, Samsung, LG, Google TV – with all these connected devices on the market, it was only a matter of time before users started, you know, plugging them in and streaming videos on them. It’s finally starting to happen, albeit a little slower than some would like.
There is only one problem. Building apps for all these different devices isn’t easy, and monetizing those videos is even harder. AdRise hopes to provide a solution by creating cross-platform apps that can be viewed on multiple different devices, as well as an ad serving service for monetization. And he raised a $2 million funding round led by Foundation Capital to do just that.
AdRise was launched primarily as a way to deliver video ads to a number of connected devices, and spent the first year of its existence building relationships with connected TVs and other device manufacturers to integrate its ad serving capabilities in their products. It has a ton of devices on board that it can advertise on, including Roku, Google TV, Yahoo TV, Samsung, Sony, Vizio, and LG connected devices, as well as major game consoles.
It is now working to help content owners and video publishers access these devices, with a platform to build and deliver apps to a number of connected devices. To do this, it creates apps for free for content creators with the understanding that when they try to monetize, it will also provide the ad serving infrastructure to do so… And it will require a reduction of all ads served on its platform.
AdRise has signed up over 70 content partners with this business model and is connected to most of the top 15 ad networks and DSPs. With this infrastructure built, the number of views of its applications has increased 25 times over the past year, reaching more than 750,000 hours of content per month. It also runs over 100 ad campaigns for these publishers across multiple devices.
AdRise is based in San Francisco and currently has a dozen employees, but will use the capital to increase staff while pursuing the growing video streaming market. Along with the funding, Foundation Capital’s Ashmeet Sidana – also a board member of video advertising company FreeWheel – will also join AdRise’s board.