Teads, a startup specializing in online-video software for advertisers, has announced that they have picked up a further 20 million pounds in new funding. The company says that 10 million comes from an increase in capital, while the other 10 million has been obtained through a mid-term line of credit.
Backers in this latest round include current investors Gimv, Partech, and Elaia, as well as BPI. And the additional credit comes from Bank of China, HSBC, BNPP, and BPI. Executive Chairman Pierre Chappaz says that this latest funding will allow them to focus on technology innovation, as well as bolstering their presence in the United States and expanding into new markets, such as Russia, Brazil, South Korea, and Japan.
Teads, which is based out of Paris, specializes in formats that display advertising within editorial content, as opposed to video. The company launched back in 2011, but have grown rapidly, completing 5 acquisitions and raising a total of $81.9 million in 7 rounds. The company reports having 350 employees across 25 global offices and generating 63.5 million pounds in revenue in 2014, which represents a 60% increase over the previous year. They’re planning a hiring spree, stating that they are now looking to add 180 employees this year.