Total amount raised
$50 Millions
Latest funding date
9/1/2016
Location
BrightLine has successfully raised funding through a Series A round, attracting investments from notable backers such as Joe Moglia and Pivotal Capital. The company specializes in advanced Connected TV (CTV) ad experiences, offering solutions like client-side ad verification and dynamic, interactive ad formats.
Keep reading to explore the intricacies of BrightLine's fundraising journey and the investors backing this innovative platform.
What Is BrightLine?
BrightLine, founded in 2003 by Jacqueline Corbelli and Rob Aksman, is headquartered in New York, New York. The company specializes in advanced advertising solutions for Connected TV (CTV), offering dynamic, interactive, and personalized ad experiences. With a team of 11-50 employees, BrightLine continues to lead the market in data-driven CTV ad experiences.
How Much Funding Has BrightLine Raised?
- Private Equity Round
- Amount Raised: $30M
- Date: July 2011
- Lead Investors: JMI Equity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and enhance technology offerings.
- Series A Round
- Amount Raised: $20M
- Date: September 2016
- Lead Investors: Joe Moglia
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and roll out innovative solutions for clients on platforms like Hulu.
Total Amount Raised: $50M. Current Valuation: Not publicly disclosed.
Key Investors
- Joe Moglia
- Details: Joe Moglia is the chairman of Fundamental Global Investors and the former CEO of TD Ameritrade. He led the $20 million Series A funding round for BrightLine.
- Investment Focus Areas: Advanced TV technology, advertising technology, financial services.
- Notable Investments: TD Ameritrade, Fundamental Global Investors.
- JMI Equity
- Details: JMI Equity is a private equity firm focused on investing in software companies. They led the $30 million private equity round for BrightLine in 2011.
- Investment Focus Areas: Software, internet, business services.
- Notable Investments: ServiceNow, DoubleClick, PointClickCare.
- Pivotal Capital
- Details: Pivotal Capital is a venture capital firm that invests in early-stage technology companies. They are one of the notable backers of BrightLine.
- Investment Focus Areas: Technology, media, telecommunications.
- Notable Investments: Not publicly disclosed.
What's Next for BrightLine?
BrightLine is poised to seize the burgeoning market of smart TVs and advanced TV advertising, with its InCAST technology suite enabling advertisers to tap into OTT, Connected TV, and Smart TV opportunities. The TV advertising market, valued at $150 billion, presents a vast landscape for BrightLine to expand its innovative solutions.
As the company scales, future fundraising rounds seem likely to support its growth and technological advancements. However, challenges such as balancing capital demands and staying ahead in a rapidly evolving market will require continuous innovation and strategic planning.
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