SAN JOSE, Calif., May 17, 2011 /PRNewswire/ -- BlackArrow, a
leading worldwide provider of advanced advertising solutions for
New Television platforms, today announced a strategic investment in
the company by Time Warner Cable (NYSE: TWC). In conjunction with
the investment, Joan Gillman,
president, media sales for Time Warner Cable, has been named to the
BlackArrow board of directors.
Time Warner Cable, the
second-largest cable system operator in the United States, joins current investors
Cisco Systems, Comcast Interactive Capital, Intel Capital, Mayfield
Fund, Motorola Mobility, NDS and Polaris Venture Partners as
financial backers for BlackArrow. The Time Warner Cable investment
and the Motorola Mobility investment from last November complete
BlackArrow's previously announced Series C funding – bringing the
total amount raised from $20 million to $27
million.
"Time Warner Cable has been a leading voice and advocate of
advanced advertising, and was early to recognize the potential of
New TV as a profitable advertising platform," said Dean Denhart, CEO of BlackArrow. "We believe
that the company's involvement as an investor is further validation
of BlackArrow as a thought and technology leader in the advanced
advertising space, and we look forward to benefiting from Joan's
insight and experience as a member of our board."
"BlackArrow has played an invaluable role in accelerating
dynamic VOD ad insertion and is well positioned to be a growing
part of the ad ecosystem," said Gillman. "Our investment in
BlackArrow highlights Time Warner Cable's commitment to supporting
our partners as the industry continues to develop new business and
advertising models across a broad spectrum of television
distribution platforms and devices."
The Time Warner Cable capital will be used for further product
innovation and deployment of the BlackArrow Advanced Advertising
System to programmers and New TV content distributors.
About The BlackArrow Advanced Advertising System
The BlackArrow Advanced Advertising System is designed
specifically for the technological complexities and business issues
within on-demand television advertising environments. The
BlackArrow Sales Suite enables ad sales organizations to define,
manage and monetize multiplatform, multioperator advertising
campaigns to reach audiences who increasingly consume time-shifted
programming on their televisions, computers, mobile and handheld
devices. For content distributors, the BlackArrow Decision Suite
offers powerful ad decisioning and proven system interoperability
to streamline deployment in complex cable and distribution
environments.
About BlackArrow, Inc.
BlackArrow is a leading worldwide provider of advanced
advertising technology for New Television platforms. The company's
multiplatform advertising system is designed specifically for video
content distributed over any on-demand platform, enabling networks
and content distributors to maximize advertising revenues.
BlackArrow is privately held, and backed by Cisco Systems (NASDAQ:
CSCO), Comcast Interactive Capital, Intel Capital (NASDAQ: INTC),
Mayfield Fund, Motorola Ventures (NYSE: MOT), NDS Group,
LTD., Polaris Venture Partners and Time Warner Cable. The company
has offices in New York City and
San Jose, Calif.
http://www.blackarrow.tv
BlackArrow is a trademark of BlackArrow, Inc. All other
trademarks are property of their respective owners.
SOURCE BlackArrow