LONDON — VideoPlaza, the Stockholm/London-based online video advertising platform, has raised $5 million in its first venture round, the company announced today.

Last week, I spoke with Sorosh Tavakoli, VideoPlaza Founder & CEO.  He was a panelist at the Beet.TV Online Video Roundtable at the offices of the Guardian newspaper.

In the interview, he provides an update on the developments at the company and plans for the proceeds of the funding. 

The investment round is being led by the Nordic region's two leading Venture Capital firms: Creandum and Northzone.  VideoPlaza raised seed investment of $650K in 2007 and became profitable in 2009, it says.

More on today's news by Robert Andrews at paidContentUK.

Mike Butcher has a round-up on the online video advertising scene in Europe in the Guardian.

Andy Plesser, Executive Producer