ScanScout Backed By $2 Million In Funding; Launching Tool That Monitors Video Topics For Advertisers

ScanScout, a Cambridge, MA-based startup that has developed a tool that lets online video publishers target the topic of a video, has received $2 million in angel investments, according to Mass High Tech. One of the participants in this first funding round was angel investor Ron Conway, who said he generally invests about $50K in tech companies, but decided to invest $150K in ScanScout, citing growing demand for online video and its ability to attract advertising.

Two former MIT classmates, ScanScout’s president Waikit Lau and CTO Steven Lee, developed the technology, which launches publicly next month. ScanScout monitors the content’s spoken text, audio and images and then select related advertisements that run just below the video screen.

Originally posted on Wednesday, April 4th, 2007
Venture Capitalism, Marketing, Video Blogging, Technology, Video.