SANTA BARBARA – When it raised a $30 million Series E venture round back in January, interactive TV ad firm Innovid said the money would be used for “additional capital” and ” to expand its global footprint”. Today, it is announcing its footprint is expanding through acquisition.
The company is buying Herolens, a Buenos Aires-based technology provider for dynamic creative optimization (DCO), the craft of assembling das for individual viewers using distinct micro-components of ad creative.
“We’re able to work with the brand advertiser, using their first party data, to be able to version the creative,” says Beth-Anne Eason, Innovid president, in this video interview with Beet.TV. DCO campaigns Innovid is able to deliver include:
- Swapping out background based on local weather conditions.
- Customized car offers based on nearby dealer stock.
- A P&G shampoo ad which was built in to more than 2,000 different versions, based on viewers’ whereabouts.
Innovid will use Herolens’ Buenos Aires HQ as the beachhead for its own Latin America business, but the 40-strong Herolens team will now join the Innovid team and the Herolens site has been taken offline.
Herolens’ software is used as “a central hub for digital asset management and dynamic creative customization, as well as display ad serving”, say the companies.
This video is from a series leading up to, and covering, the Xandr Relevance Conference in Santa Barbara. This Beet.TV series is sponsored by Xandr. Please visit this page to find more videos from the series.