Video Ad Platform Company Virool Raises $6.62 Million Seed Round
Virool is a video advertising platform that has raised a $6.62 million seed round of funding including Thomvest Ventures, Menlo Ventures, Draper Fisher Jurvetson, #DominateFund, FundersClub, and other investors. Virool will be using the funding to expand the adoption of their platform. Virool went from 200 users to 30,000 since they launched in March 2012.
The company says that it will be working to expand adoption of its platform, a service that has grown from 200 users to 30,000 since its launch in March 2012. Virool went through the Y Combinator program and this seed round was a record among all of the startups. The previous record was $6 million by FundersClub. Other investors in this round are Digital Sky Technologies, Phenomenon Ventures, TMT Ventures, Sam Altman (Loopt co-founder), Paul Buchheit (Gmail creator), Troy Carter (manager of Lady Gaga), Dave McClure (of 500Startups), Farzad Nazem (former Yahoo! CTO), Erik Moore (Zappos investor), Mike Collett (Promus Ventures founder), and Garry Tan (Posterous co-founder).
Virool was started by Alexander Debelov and Vladimir Gurgov. The company is aiming to help anyone with a video get noticed. Their platform takes videos that are longer than 30 seconds and distributes them on Facebook apps, mobile games, and blogs. The company charges only $10 to run a video campaign. They reach around 750,000 people per day and 22 million per month.
Debelov said that many social video at platforms require a minimum of $100,000 to promote sponsored video content. Virool wants to make promoting videos more affordable. Some of the companies that have used Virool so far include Intel, K-Swiss, Sony, Orbitz, and Samsung.
“We have created the most effective and engaging advertising solution available on the market today. With an overwhelming advertiser demand, we realized that what we are building is much larger than we ever thought. We went out and raised our seed round from the best group of investors possible, who share our vision of market domination,” said Debelov.