Tuesday, September 11, 2007

ScanScout wins Time Warner funding, names board

ScanScout Inc., a startup focused on online video advertising technologies in Cambridge, has landed a new investment from Time Warner Inc., and named its board of directors.

The amount of the funding was not disclosed. It comes only four months after the company announced its first round of institutional funding, a $7 million Series A round provided by Cambridge-based General Catalyst Partners.

Paul Vidich, formerly of AOL and Warner Music Group, and Jim Rossman, chief operating officer of Boston-based Digitas, have joined ScanScout's board as independent members. Rachel Lam of Time Warner as been appointed a board observer.

ScanScout's technology works to customize online video advertisements to video content.

The company was founded in 2005 by MIT classmates Waikit Lau, who is now president, and Steven Leeand, who is now CTO.