MirriAd Ltd (United Kingdom) - Oct 2007

unquote
01 October 2007

Tweet
Facebook
LinkedIn
Google plus
Send to

Seraphim Capital has led a £2m series-A round of venture funding for embedded advertising company MirriAd Ltd, alongside existing investors including London Seed Capital, South East Growth Fund and Oxford Technology Partners. The company was already known to Seraphim as investment director Mark Boggett was previously head of sister firm London Seed Capital, during which time he raised several funding rounds for Imagineer Systems; the image processing software developer from which MirriAd spun out. The investment will be used in the promotion of the brand and the service to the broadcasting industry.

Company

MirriAd was established in 2006 and has developed patented technology that can digitally insert brand images into video streams post-production, enabling products, logos, posters and bill boards to gain maximum exposure, while remaining in context with the content. This will also offer advertisers the opportunity to regionalise their content more effectively and target audiences more specifically by tailoring the brands and products used to where in the world it is being watched. This will deliver better value for money, while allowing for monetisation of video back catalogues through the retrospective insertion of new products into older content. The service is expected to be in great demand as advertising revenues are falling due to increasing audience fragmentation, which can be combated with this more targeted approach. It comes in the wake of new EU legislation in response to this issue, which has legalised product placement in Europe for the first time.

People

Mark Boggett led the deal for Seraphim w,hile Denny Wilkinson will join the MirriAd board. Mark Popkiewicz and Stephen Bullock represented the company.

Advisers

Company - Gordons Solicitors, James Gordon (Legal)Equity - MBM Commercial, Sandy Finlayson (Legal)