Pluggd Picks Up $6 Million In Funding
The word “Intel” is powerful, “Labrador” reminds me of friendly dogs, and $6 million – well, you can’t go wrong with $6 million. And let’s hope that Pluggd doesn’t, as it’s this company that just received $6 million in a round of funding.
The round was led by Intel Capital, and Labrador Ventures also took part, if you haven’t already guessed. In a press release resulting from the round, Alex Castro, the CEO of Pluggd, spoke of his company’s abilities and business model.
“We are building a really unique platform that can search inside the video stream, and we look forward to working with content publishers and advertising service providers both,” stated Castro. “Our technology makes it possible to connect advertisers with new, hyper-engaged audiences by delivering the most relevant ad, at the best possible moment.”
In addition to searching for words within videos, Pluggd also deals with audio clips. It’s an interesting idea, and as VentureBeat’s Matt Marshall points out, Pluggd “does something well that few others have been able to match.” See Marshall’s clip of the technology in action if you need further convincing.
All in all, it’s a good day for Pluggd. I was rather disappointed to discover, however, that the homepage of Labrador Ventures doesn’t feature any Labrador retrievers.