They also are more likely to become repeat buyers, Forrester Research says.
HIRO Media's funding will be used to open a New York Center of Development and Support to serve its US customers.
TEL AVIV, Israel, April 3, 2012-- HIRO Media, a global leader in video advertising management and optimization technology, announced today that it has closed a $5 million funding round.
The investment follows a number of deal announcements including among others Viewster, a pioneer video on demand service operating in more than 100 countries, leading agency Universal McCann Digital and YBRANT® a top tier digital marketing solutions provider.
Ariel Napchi, CEO of HIRO Media, said: "It has been a pivotal year for HIRO Media as we ended 2011 on a profitable note. This growth reflects the fact that we are able to provide superior video advertising solutions for online video advertisers and the sector's realization that this is an expanding market. To take advantage of this rapid growth and to extend our presence in the US, it became clear that we needed to raise additional investment."
HIRO Media's funding will be used to open a New York Center of Development and Support to serve its US customers. In addition, the company recently welcomed Jim Mazzarella to head up its buy side efforts within its US operations.
Ariel added: "We required exceptional talent to pioneer our US growth initiative. Jim was the CIO of the IPG group and chairman of the AAAA Tech Committee and is the best fit to lead our US buy-side business operations and extend our client base."
Jim Mazzarella, HIRO Media's new US Director of Advertising Products, commented: "This investment will strengthen HIRO Media's position in the global online video advertising industry and will enable us to become a central resource within the buy-side landscape."
Conceived by media and advertising industry leaders, HIRO Media unites the power of online media with the knowledge of TV advertising to create a solution converging new media capabilities with proven TV brand advertising practices. HIRO Media's platform provides a unified solution across all IP based devices. HIRO Media is a privately held company with offices in Tel Aviv, Silicon Valley, New York and Benelux. For more information visit http://www.hiro-media.com