Look out DG Fastchannel: Extreme Reach, provider of digital video ad distribution solutions, has secured $9 million in Series B financing comprised of $7 million in equity and $2 million in term debt. The round was led by Village Ventures, an original investor in the company and also included capital from Greycroft Partners and Long River Ventures, also Series A participants.
Extreme Reach was established in 2008. Since its inception, the company has established a digital network of 12,500 media properties, including 4,500 TV properties for the delivery of SD and HD television advertising, and built a client-base that includes several hundred brands, ad agencies and production companies.
The Extreme Reach senior management team is made up of execs who previously founded and built FastChannel Network – Now DG Fastchannel after the merger with DG Systems in 2006.
Michael Barach, an Extreme Reach Board member and Venture Partner at Village Ventures commented on the team’s unique position. “The specific expertise and understanding of market nuances have armed the Extreme Reach management team with a rare ability to solve real problems for advertisers and agencies. And the industry has definitely taken notice. We’re very pleased to continue to invest in this team.”
“The advertising distribution business is highly specialized. It’s a difficult industry to crack due to major barriers to entry including entrenched customer relationships, extensive domain expertise, and the capability of building a large digital video network,” added Ian Sigalow, of Greycroft Partners. “In the last few months Extreme Reach has won a number of Fortune 500 accounts, including five of the largest advertisers in the US. The Series B financing will enable the company to accelerate and build on that momentum.”
