Video Ad Agency Spotzer Raises $14.8 Million For US Expansion

Amsterdam-based video advertising agency Spotzer has attracted a 10 million euro ($14.8 million) funding round to fund a US launch. Spotzer has a catalogue of stock ads that can be personalised, allows advertisers to buy spots on TV, the web and so on and can target along geographic and demographic lines. The financing is led by Sierra Ventures and the round was joined by yellow pages operator European Directories. A third round in March was led by Cyrte Investments, with previous investments from post-production house DutchView and individual investors.

Spotzer recently opened New York and California offices and says strategic partnerships with US TV, web and out-of-home TV nets are “under development”. The funds will also be used to offer Spotzer services through European Directories sales teams. In the release, Spotzer founder and CEO Andrew Klein observes European Directories’ “insight in to how to sell advertising to small- and medium-sized businesses” presents “huge opportunity”. Klein, who previously started investment bank Wit Capital in 1996, founded Spotzer along with Dutch commercial director Thed Lenssen in 2006. The firm was partially owned by Goldman Sachs, went public in 1998, and ultimately was acquired by brokerage company Charles Schwab.