Vdopia, a fast-growing video ad network startup, has raised $4 million in a first round of funding from Nexus Venture Partners; in conjunction with the funding, Vdopia has also announced the appointment of Rohit Sharma as CEO. Co-founder Chhavi Upadhyay tells us that the two-year-old company — which has offices in San Jose, as well as in Gurgaon and Mumbai in India — launched a video ad network for iPhone apps in March, called iVdopia.
“Our vision is basically to make the entire video advertising (space) device agnostic — the same experience throughout different devices,” she says. The company started out by launching a video ad network in India, which is used by big sites there, including NDTV.com. Upadhyay says there’s some overlap between the online video and iPhone efforts in that “any company which has a video (ad) presence in a big way — they are coming onto iPhone applications as well.”
Sharma takes over from the company’s founders, who say they were all serving as “acting CEOs in a way.” Sharma had been CTO at optical networking firm ONI Systems — and more recently served as a partner at VC firm Mohr Davidow Ventures. The company has grown “100 x” over the last year — in terms of both users and sales — and is now profitable. Executives say the new funds will support future growth. Vdopia has four employees in the U.S. and 13 in India.