adap.tv Secures $10 Million in Series A Funding Led by Redpoint Ventures and Gemini Israel Funds

SAN MATEO, Calif., July 12 /PRNewswire-FirstCall/ -- adap.tv, a unique online video advertising platform that allows publishers and advertisers to match relevant advertising with online video content, today announced that it has closed a Series A funding round of $10 million from new investor Redpoint Ventures and existing investor Gemini Israel Funds, to enhance and expand the company's product offerings, broaden recruitment efforts, and grow operations.

"Securing funding from two of the finest investment firms -- Redpoint Ventures and Gemini Israel Funds -- validates the potential of our business," said adap.tv CEO Amir Ashkenazi, formerly the co-founder and CTO of Shopping.com. "The validation and support we have received from the investment community is critical to building out adap.tv's business and securing our leadership role in the online video advertising market."

A pioneer in the field of online video advertising, adap.tv's advertising platform unlocks the value of the entire video by offering viewer-friendly advertising and message placement functionality that extends beyond pre- and post-roll advertising spots. Utilizing sophisticated algorithms that not only analyze video content and determine the most relevant ad, the company's technology adapts in real time to viewer behavior, thereby increasing the success rates for publishers and advertisers alike.

"We see tremendous opportunity for adap.tv," said Scott Raney, a partner with Redpoint Ventures. "adap.tv's solid management team is building a strong business based on proprietary technology and delivering a fresh approach to video advertising. They have all the critical success factors in place to lead the next generation of video advertising."

"adap.tv's ability to leverage and customize online video content extends the power and value of online advertising," said Danny Cohen, a partner at Gemini Israel Funds. "In just a few months, adap.tv has demonstrated a strong ability to execute -- by establishing significant partnerships with industry leaders such as Metacafe and thePlatform, and driving immediate results for publishers and advertisers."

About Redpoint Ventures

Redpoint Ventures focuses on partnering with and funding innovative companies that have the potential to define, lead, and change industries. Redpoint partners have many decades of experience and success in technology investing; combined with this foundation, the firm is able to leverage a thriving network of entrepreneurs, partners, and industry experts to accelerate building market-leading companies. Redpoint (http://www.redpoint.com/) was founded in 1999 by partners from two of the top firms in the venture capital industry and currently has over $2 billion under management. The firm is headquartered in Menlo Park, CA with offices in Los Angeles and Shanghai, China.

About Gemini Israel Funds

A pioneer in Israel's venture capital industry, Gemini Israel Funds has grown to be the leading Israeli seed and early stage fund in the Information Technology arena. The firm, founded in 1993, manages $550 million in four funds. Investments are focused on the areas of Communications and Wireless Technologies, Enterprise Software, Internet, Consumer Electronics, and Semiconductors. Through offices in Israel and Silicon Valley, Gemini offers portfolio companies with access to top-tier U.S.-based investors and a global network of corporate partners. As investment professionals, Gemini's key contributions include an ability to make daring investment decisions and the capability to utilize past operational experience in assisting portfolio companies. Past successes include: Allot, Mellanox, Saifun, Precise, Butterfly, Commtouch, Ornet, Verisity, Jacada, Ceragon, Riverhead, nLayers, and others. For more information, visit http://www.gemini.co.il/.

About adap.tv

adap.tv provides a unique online video advertising platform that allows publishers and advertisers to match relevant advertising with online video content. The company uses advanced technology to analyze the video, audio and metadata to serve contextually relevant ads in a viewer-friendly manner. adap.tv continues to monitor viewers' interaction with the ads and adapts in real time to their interests and behavior. Founded in 2006, the company is privately held. adap.tv is headquartered in San Mateo, CA. For more information, visit http://www.adap.tv/.