Mixpo Raises $4M from Madrona Venture Group, Other Investors
Seattle video-advertising startup Mixpo has raised $4 million in a Series B round of venture funding, as first reported by VentureBeat. The round is being led by existing investor Madrona Venture Group, based in Seattle, and also includes Yaletown Venture Partners and Growthworks Capital. Venture capitalist Matt McIlwain leads Madrona’s involvement with Mixpo.
Mixpo was founded in 2005 and has raised a total of $10.5 million in venture capital. The company makes a software platform for online video advertising that works by helping local advertisers and media groups (TV stations and newspaper websites) upload content such as videos, images, and music, in order to run video ads. Mixpo’s customers and partners—among them some new ones announced last week—include NBC’s local media groups, Comcast, the Tribune and Hearst newspaper companies, and Fisher Communications.
Mixpo is led by president and CEO Anupam Gupta, who previously spent eight years as a senior business leader in Microsoft’s online services group. He led product management for MSN instant messaging and blogging services. “We’re excited about the momentum we’re building with our partners,” Gupta said in an e-mail. “This follow on investment will help us build on that success.”