Kennet invests €6.5 million in video advertising firm GoViral
GoViral distributes branded video content across its proprietary publisher network, creating a unique online presence for brands.
London, March 24, 2009 – Kennet Partners, the technology growth investor has announced a €6.5 million investment in GoViral, a global online distributor of branded video content.
GoViral launches branded video content across its proprietary online publisher network, ensuring high brand engagement and maximum viral exposure to the relevant demographics. GoViral’s unique positioning within viral marketing and video distribution ensures high-volume, targeted and high return-on-investment campaigns. These content-based campaigns are distributed in local languages, on local sites and with local publishers. Recognized as a leader in the segment, the company’s Seed&Track solution helps marketers reach Internet users in more than 80 countries. GoViral is based in Copenhagen, with offices in London, Frankfurt and Paris.
According to Jupiter research, online video will grow faster than any other creative type in Europe, increasing more than tenfold from €87 million (four percent of display ad spending) in 2006 to €929 million (20 percent of display ad spending) in 2012.
“We are excited about the prospects for GoViral.” said Michael Elias, Managing Director of Kennet. “Jimmy Maymann and his team have developed a first-mover advantage in a significant new market that is transforming media and advertising consumption. GoViral is an established business, fast-growing and profitable, with a global market opportunity. It is capital-efficient and highly responsive to the evolving requirements of its customers. The combination of strong market opportunity, innovative technology and effective management team makes this a very promising investment for Kennet and we are pleased to be the first institutional investor in the company.”
Jimmy Maymann, CEO of GoViral added, “We believe that the Kennet team, and Michael in particular, can add a lot of value to the business in the coming years. We have a shared vision for the business - the belief that video advertising is a key consideration that will help the online channel become the most important advertising medium in the future. GoViral already has a leading position within the digital advertising space, and this investment positions us well to scale the business to respond to the opportunity.”
As part of the investment, Michael Elias from Kennet will join the board of GoViral.
About Kennet Partners
Kennet is a leading international private equity firm that invests in growth companies in Europe and North America. Kennet supports entrepreneurial technology businesses with expansion capital to accelerate growth and build exceptional shareholder value. Kennet is an experienced investor with more than $500 million in funds under management.
For more information: www.kennet.com. Kennet Partners Limited is authorized and regulated in the U.K. by the Financial Services Authority
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