BlackArrow Adds Comcast In $12M Series B

By Ty McMahan - VentureWire - October 15, 2007

BlackArrow Inc., a provider of ad-management systems for video content, has closed a $12 million Series B round of funding.

The financing includes new investor Comcast Interactive Capital and previous shareholders Cisco Systems Inc., Intel Corp., Mayfield Fund and Polaris Venture Partners.

Dean Denhart, previously chief technology officer of Knight Ridder Digital, also has joined BlackArrow as president and chief executive.

In a crowded landscape of companies trying to facilitate targeted advertising for Web video, BlackArrow delivers a software platform for all types of video delivery including broadband, video-on-demand and digital video recorders.

The BlackArrow system manages, delivers and measures targeted advertising for video, enabling content providers, advertising agencies and distributors to reach consumers who are increasingly controlling where, when and how they watch video content.

"When a consumer pulls down a ‘Desperate Housewives' episode at 2 o'clock in the afternoon in Des Moines, Iowa, we know the appropriate ad that targets them," Denhart said.

Denhart said the company has collected top strategic partners since its founding and is happy to add Comcast to the roster.

"I think the strategic partnerships are very important and the primary reason for having a company such as Comcast is that it's a big validation for us in the cable world," Denhart said.

The recent round of funding will be used for additions to the product and team, Denhart said.

Founded in 2005, the San Mateo, Calif.-based company previously raised $5 million.