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THE MAD VIDEO RAISES $585K IN 1ST ROUND FROM VITAMINAK, FAMILY OFFICES AND BUSINESS ANGELS.
The Mad Video, Spanish startup based in Silicon Valley, creates solutions of online video monetizing, has closed its first financing round totaling $585,000. The round have been assisted by investment funds, family offices and business angels, among them, Iñaki Arrola and Rafael Garrido, founding partners of the venture capital firm VitaminaK; Bernardo Hernández, co-founder of Idealista, Tuenti, 11870 and StepOne and global head of emerging markets at Google; and the Italian business angel Antonio Fontanini. VitaminaK joined the company in July 2011 (see news).
The funds will go to finance the completion of the beta version of the tool for further expansion and growth in the U.S. market, strengthen the position of the company co-founded by Koldo García (CEO) in the market for new technologies and Internet developments.
The Mad Video activity is focused on developing software tools that facilitate the creation of interactive online videos that can offer the user information about people, objects and/or places displayed on the video. In a market which is expected an increasing development in the coming years, the use of online advertising by these tools is carried out in a way that is not intrusive and more effective than traditional. It is estimated that by 2014 the online video advertising spend in the U.S. reach $5,700 million.
Download free the 2011 Venture Capital in Spain report (Spanish language), with the main figures and details of 246 deals. Also free access to 2010 VC report (Spanish language).