Vdopia Raises $4 Million, Adds Sharma as CEO

Vdopia, a San Jose, Calif.-based developer of a pre-app and in-app video advertising platform for the iPhone, has raised $4 million in Series A funding from Nexus Venture Partners. The company also named Rohit Sharma, former principal with Mohr Davidow Ventures, as its new president and CEO.

PRESS RELEASE
Vdopia, the creator of the most consumer-friendly Pre-App and In-App video advertising platform for the iPhone (iVdopia – www.ivdopia.com), has announced that Nexus Venture Partners has invested $4 million in their Series A funding round. Vdopia has also appointed Rohit Sharma as its new President and CEO. Sharma will work with company co-founders to continue to grow revenue and lead the company’s innovative platform to ensure the best user experience and highest ROI for brands.

“Vdopia has the highly motivated, execution-oriented founding team of Chhavi Upadhyay, Saurabh Bhatia and Srikanth Kakani, who have a vision that I am convinced will certainly change digital advertising around the world,” said Suvir Sujan, co-founder of Nexus Venture Partners and a Vdopia board member. “Vdopia prioritizes the user in creating consumer-friendly video and an embedded app-within-an-app advertising experience as part of its iVdopia platform for smartphones. We invested in Vdopia with the firm belief that mobile content and new media markets show a potential for radical growth, and the founding team at Vdopia is accelerating innovation in a new generation of digital media platforms for advertising in traditional online and new media markets.”

A Silicon Valley entrepreneur, Sharma has experience in the venture capital industry and has held technology leadership roles with such companies as ONI Systems. As EVP and CTO of ONI Systems, Sharma created the optical switching technology that paved the way for the foundation of ONI in 1997. Rohit also was a member of the investment team at Mohr, Davidow Ventures (MDV) in the Information Technology area before arriving at Vdopia.

“Rohit brings an entrepreneurial spirit to our business and an appreciation for deep technical innovation,” said Vdopia co-founder Srikanth Kakani. “Our technology was designed to deliver the best experience and higher engagement time for the users. In our network, users watch more than 50 percent of the Pre-App video and the performance is 300 percent higher than traditional online video ads. The proprietary No-Wait Pre-App video ad technology for the first time makes video advertising possible on all iPhone applications.”

“iVdopia platform enables premium brands to reach out to their target audience by utilizing the engaging brand sponsorship Pre-App and In-App video units on iPhone,” added Vdopia co-founder Chhavi Upadhyay. “In fact, Vdopia is the first company to enable Pre-App/In-App video advertising on all iPhone applications through its Brand Advertising & Sponsorship Model.” Vdopia co-founder Saurabh Bhatia commented: “It is worth mentioning that iVdopia premium applications are among the top applications in the Apple Store with a huge reach and higher engagement. Together, Nexus and Vdopia are renewing our commitment and mission to enable brands to deliver the most inviting and inclusive advertising anywhere.”

“I’m excited to join Vdopia, a company that is delivering market-beating results for major brand advertisers through a combination of innovation and a unique focus on the consumer,” said Sharma. “Advertisers are always looking to meet the ever-changing needs of consumers, to respond to emerging technologies, and Vdopia is perfectly placed to lead the way. This investment from Nexus will give us the resources to execute our growth plans and transform the advertising experience for brand advertisers and consumers alike.”

About Vdopia:

Vdopia is the creator of the iVdopia advertising platform – the only smartphone brand advertising solution completely contained within the app – which offers a broad range of integrated advertising formats, including Pre-App video on the iPhone. iVdopia’s brand-focused iPhone advertising network and platform is used by major brands and advertisers to deliver premium advertising campaigns.

Vdopia is a privately held, venture-backed company headquartered in Silicon Valley. The company has sales and development offices in New York City and India.

About Nexus Venture Partners:

Nexus Venture Partners is focused on investing in innovative early to growth-stage companies. It was recently named one of only two firms from India in the Red Herring Top 100 Global Venture Capitalists list. Started in 2006, Nexus Venture Partners is a group of successful entrepreneurs with extensive investing experience. With funds of $320 million under management, Nexus has an active portfolio of over 20 companies. For more details: http://www.nexusvp.com/