ironSource Acquires Sequoia-Backed Video Ad Company StreamRailJul. 3, 2016
Today, global technology powerhouse ironSource announced the acquisition of Sequoia-backed video technology company StreamRail. The 15 person Streamrail team will join ironSource's Advertiser Solution division, where their proprietary technology for video delivery and monetization will work to enhance ironSource's existing video advertising platform for brands - ironSource Neon.
"We have a long history of inorganic growth at ironSource, and we plan to continue being active buyers in the marketing technology space as the industry consolidates around a few big players," said Omer Kaplan, CMO and Co-Founder of ironSource. "We believe strongly in video and the growth opportunities it represents, and the superlative technology of StreamRail stood out to us as an incredible opportunity to enhance our offering to our advertiser and brand clients."
According to data from Cowan and Company, digital video ad spend is predicted to reach $28.08 billion in 2020 in the US alone, making video the fastest-growing category across devices and overall from 2016 through 2020. Already a market leader in mobile video, controlling 40% of the global rewarded video market, ironSource has been testing StreamRail's technology with selected advertiser clients for the last few months.
"When we plugged StreamRail's technology into the ironSource ecosystem, we saw immediate and amazing results for our clients," said Tamir Carmi, COO and Co-Founder of ironSource. "It's a testament to the amazing potential effect of combining best-in-class technology with the scale and reach of the ironSource ecosystem."