Israeli video ad tech firm Hiro Media have raised $5 million to fund a stronger play in the US market. The funding will be used to open a ‘Center of Development and Support’ in New York that will serve the US market.
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.”