ViralGains, a leading video advertising journey platform, has announced that it has secured a total of $13.5 million in Series B equity and debt funding. This sum includes $10 million in equity capital from new investors First Analysis and Origin Ventures and existing venture investors including Stage 1 Ventures, Pallasite Ventures, and LaunchCapital. In addition, the company closed $3.5 million in debt funding from Square 1 Bank, a division of Pacific Western Bank. Jim Macdonald, Managing Director at First Analysis, which led the round, would join ViralGains’ board of directors.
The investment will further fuel ViralGains growing market share in video advertising, which is increasingly being redefined by companies seeking brand safe environments where they can engage qualified consumers who convert to sales.
Tod Loofbourrow, CEO, ViralGains, said, “As video advertising spends dramatically increases, the demand for ViralGains’ proprietary machine learning platform for predicting and driving video engagement has skyrocketed. Our latest round of funding is a testament to the way our platform drives the deepest engagement, consumer connection and business results for the largest and most demanding brands in the world. We are seeing bigger budgets that traditionally went to Facebook and Google as brands recognize that video isn’t about two second views or impressions, it is about meaningful engagement and sales.”
“ViralGains’ funding follows a record period of growth. The company has grown by 600% over the last three years”
ViralGains opened new offices in Detroit and San Francisco to expand to seven key markets in the US and secured a new, larger Boston headquarters to support the company’s rapid growth.
ViralGains’ growth is largely attributable to its unique ability to help brands create authentic connections with consumers using the storytelling and conversational power of video. With ViralGains, video stories go beyond a single campaign by delivering different messages at each stage of the buying journey. Brands using the ViralGains platform work strategically with video to drive deep connections with individual consumers, measure attitude and behavior in real-time, create a two-way conversation, and find qualified prospects with a high propensity to buy.
Jim Macdonald of First Analysis, said, “What makes the ViralGains platform unique is its ability to turn the attitudes and behaviors of consumers into meaningful connections with brands. This is the first investment for our 13th fund, so we are especially excited to work with ViralGains as they transform video into an engine for turning advertising into real consumer journeys that move people to make purchases.”
Currently, ViralGains enables marketers to engage people with relevant brand stories in the contexts that people most favor. Using the platform to engage in a two-way conversation, brands discover exactly what people want — and how they feel — and build a unique journey that connects highly qualified consumers with relevant messages that generate awareness, motivate intent, and impact purchase decisions.