Notion led a £3m Series A investment round in Rockabox that we announced this week.
We believe that the internet will be increasingly dominated by video. We also believe that Rockabox are uniquely placed to take advantage of this market shift. Our investment decision was really based on these two factors.
The numbers are just extraordinary. Online video is growing by more than 50% a year and is expected to be 69% of all internet traffic by 2017. Video advertising is also by far the fastest growing segment of the overall digital advertising market that is worth more than $100bn in total.
On this basis it is difficult to argue that the future of the internet will not be dominated by video. The market is being propelled by more bandwidth, more mobile devices and the need for compelling content to capture people’s attention.
The trouble is that so much of the video advertising we see online was not designed for this channel and therefore seems out of place. But also that so much of it is delivered in a way that makes for a frustrating experience usually because it is delivered as a ‘pre-roll’ ahead of the content that you actually want to watch or ‘below the fold’ making it difficult to find especially on a mobile device.
Rockabox has a complete solution to this through their software-as-a-service platform that combines distribution, engagement and analytics. It ensures that you can reach an audience in a much more targeted way. It means that brands can synchronize their video content with related videos, messaging, interactive features and ecommerce. And it provides a full dashboard providing an advertiser with all the information they need to understand how the campaign is going and what can be done to further optimize performance.
Rockabox also has an award-winning creative services studio producing amazing work that really showcase what their technology can do in terms of taking video advertising to the next level.
James Booth, the co-founder and CEO of Rockabox, has a proven track record in this space. His previous business Tangozebra, a multi-media platform, was sold to Google for around $30m and he is a well recognized entrepreneur and visionary in the space.
Rockabox has a high quality team, truly innovative technology and an explosive market opportunity that combine together to form just the kind of business that we like to invest in and we are very excited to be doing just that.
In other news, Notion invests $9m into the rocket driving the Direct Booking Movement.