App marketing company Immersv, which specialises in mobile 360 video and VR advertising, completed a $10.5 million Series A round of financing.
According to Paul Sestili, general partner with Rogers Venture Partners, which led the investment round: “Mobile 360 and VR advertising provides some of the highest view completion rates, click through rates, and overall engagement rates for both brands and performance advertisers. As the central marketplace for buying and selling these new ad formats, Immersv is well positioned to drive significant value for both advertisers and publishers.”
Immersv will use the funds to accelerate product development and deployment.
Mihir Shah, Immersv’s CEO, believes while the mobile video market continues to grow: “interactive advertising experiences will displace the current video advertising market in the next few years providing better results for advertisers, higher yield for publishers, and a significantly better experience for consumers.”
The Venture Reality Fund and HTC Vive also participated in the funding round.
Sestili and Hironao Kunimitsu, CEO and founder of mobile gaming company Gumi, joined Immersv’s board of directors.
Immersv was founded in 2015 by a team of experts in app marketing and ad-tech. It helps developers drive distribution and monetisation for their content.