Wednesday, March 11, 2009

Greylock backs online video and ad firm, Auditude

By Mass High Tech staff

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Greylock Partners, a venture capital firm in Waltham, has returned to back a California-based online video management and advertising platform in a $10.5 million round of funding. The VC firm joined lead investor Redpoint Ventures of California in supporting Auditude, a company that joins its own patented fingerprinting technology with an ad platform.

Greylock previously led an investment round in Auditude in 2007.

The $10.5 million will support Auditude’s plan to grow its leadership and monetization strategies. Along those lines, the company added Redpoint Ventures partner Chris Moore to the Auditude board of directors.

The video game company has partnerships with MTV Networks, Warner Bros. Entertainment and MySpace.

Greylock and Redpoint have joined investment forces before, backing Facebook, DoubleClick and Right Media. Most recently, the two firms contributed to the $5.6 million investment in Oodle Inc., a San Mateo, Calif.-based online classified ads aggregator.

Greylock Partners, which was founded in 1965 and has offices in San Mateo and Israel, manages more than $2 billion in capital, supporting equity for about 300 companies. Of these firms, about 125 companies have become publicly held and about 100 other companies have had successful mergers.