Chinese Video Ad Network CTS Closes $8 Million Second Round Led By Steamboat Ventures

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In-stream video ad provider CTS Media (“Click To See Media”) has raised $8 million in second round funding led by Disney’s Steamboat Ventures; Steamboat contributed $5 million. This round brings Shanghai-based CTS’ total funding to roughly $11 million. Along with the investment, Benjamin Xu, managing director of Steamboat Ventures, has joined CTS’ board of directors. Draper Fisher Jurvetson also participated in the round, together with previous investor Sequoia Capital China, which headed the first round and provided $2 million to CTS in 2006. This new infusion of capital is intended to go towards general expansion activities. Release.

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