Auditude Raises $10.5 Million From Redpoint Ventures and Greylock Partners

Additional Funds to be Used to Propel Auditude’s Leading Online Video Management and Advertising Platform

PALO ALTO, Calif., March 11 Auditude, a leading online video management and advertising platform, today announced that it has secured an additional $10.5 million in funding. The investment, led by Redpoint Ventures along with existing investor Greylock Partners, follows Auditude’s previous financing, led by Greylock in 2007.

Redpoint and Greylock have between them backed market-leading companies such as DoubleClick, Right Media, Facebook and MySpace. Auditude plans to use the new funds to expand its leadership position in video management and monetization for content owners and publishers across the web.

In conjunction with this financing, Auditude has added Chris Moore, a Partner with Redpoint Ventures, to its Board of Directors. Moore joins existing board members James Slavet of Greylock Partners, Owen Van Natta, CEO of Playlist and former COO of Facebook; David Moore, Vice Chair of IAB and Chairman and CEO, 24/7 Real Media, Inc.; and Rod Canion, founder and former CEO of Compaq.

“Auditude exhibits many of the market-disrupting qualities we look for in potential industry leaders,” said Chris Moore, Partner with Redpoint Ventures. “The company has an opportunity, with its partners and its platform, to help shape this market by dramatically simplifying the monetization of online video.”

“The Auditude team has done a terrific job executing over this past year,” said James Slavet, Partner at Greylock. “Auditude’s unique combination of technologies has the potential to bring a profound shift to the way content is managed and sold online.”

Auditude enables content owners, publishers and advertisers to benefit from the distribution of video on the web. The company combines their highly accurate and patented fingerprinting technologies with a robust ad platform to simplify video distribution and advertising.

Online video has become an increasingly vital part of the Internet’s fabric, with more than 80 percent of U.S. Internet users watching video online according to eMarketer. Yet despite its prolific use, the advertising dollars being driven by online video remain a small fraction of the dollars spent on television. Auditude is focused on solving this challenge by enabling ad targeting and sales management for professional content no matter where it lives across the Internet in order to grow the business opportunity for content owners, advertisers and publishers alike.

“We have been able to drive some big innovations this year and seen tremendous growth in our business,” said Adam Cahan, CEO of Auditude. “This investment will help us to further our goals of growing the market for online video by enhancing distribution, advertising and management.”

Auditude has partnerships with some of the world’s largest content and publishing companies including MTV Networks, Warner Bros. Entertainment, and MySpace (Video and Music).

Auditude’s video index has been widely deployed and validated as most accurate – the company maintains one of the largest indexes of professional content in the world, covering more than 1.3 billion minutes and hundreds of millions of videos.

About Redpoint Ventures

Redpoint Ventures teams up with exceptional entrepreneurs to help build industry defining technology companies. Redpoint partners have many decades of experience and success in technology investing; combined with this foundation, the firm is able to leverage a thriving network of entrepreneurs, partners, and industry experts to accelerate building market-leading companies. Redpoint’s portfolio includes innovative start-ups like Scribd, LifeSize, Blue Kai, HomeAway, Solyndra, Topspin Media, Gaia, Fortinet, Answers.com, and others. Redpoint partners have also backed industry leading companies such as MySpace, Netflix, Danger, TiVo, Juniper Networks, Foundry Networks, Ask.com, Zimbra, RightMedia, and Documentum. The firm is headquartered in Menlo Park, CA with offices in Los Angeles and Shanghai, China. For more information, visit www.redpoint.com.

About Greylock Partners

Founded in 1965, Greylock Partners is one of the world’s leading venture capital firms. Over the past 44 years, Greylock has funded and helped build several hundred successful companies. The Greylock approach uniquely puts the entrepreneur first, with Greylock working as an “invited guest” in a highly supportive yet consultative way to help entrepreneurs build market-leading companies. Companies Greylock has funded include Ascend Communications, CheckFree, Constant Contact, Continental Cable, Decru, Data Domain, Digg, DoubleClick, Facebook, Internet Security Systems, Ikanos, Legato, Linked In, Millennium Pharmaceuticals, Openwave, Red Hat, RightNow Technologies, Success Factors, Tellabs, Trilogy and Wily Technology. Greylock’s offices are located in Silicon Valley, the Boston area, Israel and India. For more information, please visit www.greylock.com.

About Auditude

Auditude enables content owners, publishers, and advertisers to grow video advertising revenues by simplifying video monetization and content distribution. The Auditude Connect(TM) platform enables content owners and publishers to create incremental revenues with little to no effort – regardless of how or where the video is syndicated.

Auditude’s executive and technology team is made up of talent from some of the world’s most successful technology companies including Apple, DoubleClick, eBay, Google, PayPal, and Yahoo! among others. Auditude is based in Palo Alto with offices in Los Angeles and New York City. For more information, please visit us at: www.auditude.com

Source: Auditude