ScanScout Secures $7 Million in Series A Financing

CAMBRIDGE, Mass.--(BUSINESS WIRE)--ScanScout (www.scanscout.com), a leading performance video technology provider, announced today that it has closed $7 million in its first round of institutional funding led by General Catalyst Partners with participation from existing angel investors, Ron Conway and First Round Capital. Proceeds from the financing will be used to accelerate ScanScout’s growth, including product development and staffing needs.

“The timing of ScanScout’s solution couldn’t be better. Waikit Lau and Steven Lee are strong technical founders who are well positioned to develop and deliver the next-generation of video advertising solutions to advertisers and publishers”

Video represents the most compelling opportunity online today. But the challenge has been how to best monetize and deliver that video while preserving a favorable user experience and protecting advertisers. With the spread of digital cable in homes around the globe, the way that video is bought and sold will soon look far more like an exchange than anything in widespread practice today. ScanScout technology solves these challenges for advertisers and publishers, providing brand protection to ensure that advertisers' brand messages will only be seen adjacent to the most appropriate content while offering a glimpse into the future of digital television and ultimately a better user experience for consumers.

“The timing of ScanScout’s solution couldn’t be better. Waikit Lau and Steven Lee are strong technical founders who are well positioned to develop and deliver the next-generation of video advertising solutions to advertisers and publishers,” said David Orfao, managing director, General Catalyst Partners.

Nearly two years since its founding, but just weeks since its launch, the company has become one of the fastest growing, most-chronicled digital marketing technology providers – with early adopter technology installations already in place at numerous professional/broadcast as well as user-generated video sites. The company has also obtained significant advertising commitments from numerous national agencies and brands.

“In every way, General Catalyst is the perfect partner for us, especially at this stage of our development,” said Doug McFarland, CEO, ScanScout. “The operating and business-building experience that David and his partners bring to our team is invaluable. We are thrilled to partner with them to take ScanScout to the next level.”

About General Catalyst Partners

General Catalyst Partners is a venture capital firm that invests in exceptional entrepreneurs who are building the technology-based companies that will lead innovation and transform industries. Founded in 2000, General Catalyst Partners leverages its principals' extensive operational, business development and technological expertise to provide portfolio companies with a catalyst for success through business-building and partnership development assistance. General Catalyst has approximately $1 billion under management and is headquartered in Cambridge, Mass. For more information, please visit: http://www.generalcatalyst.com.

About ScanScout

ScanScout helps digital agencies and publishers maximize their video advertising opportunities by providing technology that delivers far more precise targeting, additional inventory and better results. ScanScout upends the established model of digital video delivery through its sophisticated technology that enables the right creative to be delivered at precisely the right time to the right consumer while also creating additional inventory for the publisher within and around their video content. ScanScout also generates additional media opportunities for brands seeking to leverage the flexibility of variable length video creative units. For more information, please visit: www.scanscout.com.