Video engagement specialist Rockabox has completed a series A funding round led by Notion Capital and supported by existing investors Frog Capital and fourteen17.
Video is the fastest growing part of the USD100bn digital advertising market and is expected to reach a 14.5 per cent share by 20161. Rockabox plans to use the new funding to expand into new markets, further develop its software-as-a-service platform and further consolidate its position as a leading provider of video engagement technology for brands, agencies, publishers and broadcasters.
Rockabox has grown rapidly since the company’s launch in 2008 with clients including leading brands such as Honda, Diesel, Estée Lauder, Hackett and House of Fraser.
James Booth, Rockabox’s chief executive and co-founder, says: “As brands invest more and more into video content so the demands grow for demonstrable return on investment. Rockabox’s unique HTML5 technology, helps brands extract the most value from their content by dramatically increasing engagement amongst premium audiences across all devices.”
Rockabox has developed a software-as-a-service video technology platform combining distribution, engagement and analytics that is transforming the way consumers engage with content. It includes the Shutters technology, a HTML5 content media format that enables brands to synchronise video content seamlessly with brand messaging, interactive features and ecommerce functionality.
“We believe the future of the Internet will be dominated by video,” says Jos White, partner at Notion Capital. “Rockabox enables brands to exploit the full potential of their video content. The Rockabox team are proven visionaries in the market and we couldn’t be more excited to be involved in their latest venture.”
Online video advertising grew 50.7 per cent in Europe in 2012, with year-on-year growth of 43.2 per cent in the UK. Meanwhile Cisco forecasts that globally, consumer Internet video traffic will account for 69 per cent of all consumer Internet traffic in 20173.
