Multi-screen interactive advertising technology company Jivox today said it has raised USD 5.8 million in venture capital funding.
The funding was led by Fortisure Ventures, a San Francisco-based firm, Shah Capital and existing investors - Diaz Nesamoney, Opus Capital and Helion Advisors, the company said in a release here.
"This investment will allow us to accelerate our market leadership," Diaz Nesamoney, Chief Executive Officer and Founder of Jivox, said.
The company plans to use this round of investment to expand sales and marketing and invest in its flagship product - Jivox IQ.
Commenting on the development, Fortisure Ventures CEO Mani Subramanian said, "the growth of the digital advertising industry over the past year is unmatched.
According to a study by the Association of National Advertisers and Nielsen, spend on multi-screen advertising campaigns by firms is expected to grow from 20 per cent to 50 per cent of their budgets in the next three years.
