Innovid Corp. (Innovid) operates as a leading enterprise software platform for the creation, delivery, measurement, and optimization of advertising across connected TV (CTV), linear TV, mobile, and desktop environments. The company provides critical technology infrastructure for many of the world's largest brands, agencies, and publishers, and empower them to create ad-supported TV experiences people love.
Innovid's cloud-based enterprise technology platform is purpose-built for CTV, with a com...
Innovid Corp. (Innovid) operates as a leading enterprise software platform for the creation, delivery, measurement, and optimization of advertising across connected TV (CTV), linear TV, mobile, and desktop environments. The company provides critical technology infrastructure for many of the world's largest brands, agencies, and publishers, and empower them to create ad-supported TV experiences people love.
Innovid's cloud-based enterprise technology platform is purpose-built for CTV, with a comprehensive view of the full advertising ecosystem, including linear TV, mobile, and desktop channels. The company's platform tightly integrates with the highly fragmented advertising technology and media ecosystem, and includes three key solutions: Ad Serving, Creative Personalization, and Measurement. Every day, the company delivers approximately 1.3 billion Media Ratings Council (MRC)-accredited ad impressions, which gives it an unparalleled CTV data set. The company leverages this data to power all of its solutions, and it serves as the foundation for its Artificial Intelligence (AI) implementation and optimization strategies, which it is using to drive future growth. Innovid is an independent platform.
The company counts many of the world's largest brand advertisers as customers, including Anheuser-Busch InBev, CVS Pharmacy, Kellogg's, Mercedes-Benz, Target, Sanofi, and more. As of December 31, 2023, over 50% of the top 200 large advertisers by TV US advertising spend, according to MediaRadar, leveraged its platform. The company also trusted partners to the largest streaming platform providers in the world, including Disney, Hulu, ESPN, NBCU, and Paramount, and it works closely with top advertising agencies and agency holding companies, such as WPP, Publicis Groupe, Omnicom Group, Interpublic Group of Cos., Dentsu Inc., Havas Group, Horizon Media, and The Stagwell Group. The company's clients are diversified across all major industry verticals, including consumer packaged goods, pharmaceutical and healthcare, retail, financial services, automotive and technology. Innovid serves customers globally across over 50 countries, with most of the company's customers located in the United States.
Innovid's revenue has grown alongside the growth of advertising on streaming platforms, specifically CTV advertising. The company's open platform and position as a strategic platform partner has allowed it to grow its customer base with many of the largest, most well-known global brands. Further, the company's usage-based revenue model is based at a fixed price per volume. As brands increase their CTV spend in the coming years and their volume grows, the company has the opportunity to realize continued growth within those accounts. CTV accounted for 53% of all video impressions served by Innovid during the years ended December 31, 2023. An impression is the metric used to quantify the number of views of an advertisement. The company has long-term relationships with many of its brand customers, with an average relationship of over six years for its top 100 customers. In the last few years, it has increasingly included minimum commitments as part of its customer deals, which marks a continued shift toward predictable, recurring revenue. The company also has ongoing contractual agreements with the top advertising agency holding companies and major advertising agencies, who serve as valued partners in serving the needs of the brand customer, as well as publishers, such as Disney+ and Hulu who ultimately stream the advertisements to consumers on their platforms.
Most of the company's revenue is derived from its Ad Serving Solutions, where ads are delivered through the Innovid ad serving platform to various digital publishers across CTV, mobile, desktop, and other channels. The company's Measurement Solution, InnovidXP, measures the efficiency and effectiveness of CTV advertising and its instant optimization capabilities enable in-flight optimizations for television advertisers. The company's Creative Personalization Solutions provide creative services for the design and development of interactive data-driven and dynamic ad formats by adding data, interactivity and dynamic features to video advertising assets. The company's solutions enable advertisers to generate millions of personalized ad versions from a single asset.
In 2023, launched Instant Optimization solution using InnovidXP measurement data to optimize ad creatives in real-time. Partnered with NBCUniversal to measure outcomes for local advertisers across CTV and linear. Partnered with Infillion to scale reach & streamline workflow for interactive CTV ads. Surpassed 400B impressions served / year.
The Innovid Platform
Innovid's technology is purpose-built for CTV, with a comprehensive view of the full advertising ecosystem, including linear TV, mobile, and desktop channels. The company's cloud-based software platform provides an open technology infrastructure that tightly integrates with the highly fragmented advertising technology and media ecosystem including demand side platforms (DSPs) and supply side platforms (SSPs), such as The Trade Desk, Magnite and Verizon Media; publishers, such as Hulu, Disney and Peacock; and end user devices such as Amazon Fire and Samsung Smart TV.
Every day, the company delivers over 1.3 billion MRC-accredited ad impressions, which gives it an unparalleled CTV data set. The company leverages this data to power all of its solutions, and it serves as the foundation for its Artificial Intelligence (AI) implementation and optimization strategies, which it is using to drive future growth. As an independent platform. Innovid's integrated platform consists of three core solutions: Ad Serving, Creative Personalization, and Measurement Solutions.
Ad Serving Solutions
Innovid's cloud-based ad serving platform is an independent and comprehensive software toolset for video campaign implementation and management. The independence of the company's platform is a strategic differentiator, enabling it to work with any publisher or partner, without media bias or ad-buying conflicts of interest. The company's open platforms enable its clients to seamlessly activate partners, such as DoubleVerify, Integral Ad Science, Oracle Data Cloud, among many others. Within its platform, the Campaign Submission Form (CSF) is used by clients to submit advertising campaign information and creative assets which are automatically validated and encoded to ensure compliance with the variety of different delivery format specifications typical in the industry. The CSF also allows advertisers to set up creative ad rotation and delivery strategies. The company's Campaign Management Tool (CMT) is the company's central hub for managing partner integrations, publisher tag generation, click-through and tracking management, as well as supporting QA. The CMT workflow tool allows clients to streamline day-to-day operations, eliminate unnecessary work, expedite campaign launches and maximize reporting quality. The company's analytics dashboard provides a unified visualization of ad performance filterable by delivery, audience reach, device breakdown, viewability, verification and more. The company enables custom report building, including integration with third-party data visualization partners, allowing users to customize and automate reporting to meet their strategic campaign goals.
Creative Personalization Solutions
The company's dynamic creative optimization (DCO) solution enables advertisers to generate millions of personalized ad versions from a single asset through the use of several proprietary software tools. The company's solution enables the optimization of its client's creative asset based on signals from the Innovid ad serving platform and measurement tools and from partners, such as Walmart DSP and Disney. The company's Software Development Kit (SDK) allows CTV publishers to execute advanced video formats across all CTV devices and enables advanced measurement. The Innovid SDK is integrated with many of the leading CTV apps and devices, providing advanced video capabilities into more than 100 apps on all the leading devices. The company's Creative Composer Suite allows designers and developers to author ads through any combination of internal, external, and/or code-based tools, including Adobe and Google Web Designer plug-ins. Creative teams can use intuitive tools to design custom or templated interactive and dynamic CTV ads. The company's platform also contains powerful strategic modeling tools to provide flexibility to create and visualize strategies across multiple data sets, such as geo, weather, date/time, audience, frequency, sequencing, publisher data, retargeting, and ISP. Within each decision tree branch, creatives can be managed via ad rotation, sequencing, and optimization. Finally, the company's proprietary dynamic rendering engine uses automation to streamline workflows. It is designed to seamlessly pre-render dynamic static images, animations, and videos. These ads are assembled server-side (cloud) and in real-time upon ad request. The company's proactive certification includes automated specifications compliance and video encoding, ensuring that ads are served at the highest possible quality across all publishers and devices, including 4K CTV.
Measurement Solutions
The company's measurement solution, Innovid XP, is designed to provide holistic and granular household-level analysis for the TV and digital ecosystem. While there is native standard measurement and reporting functionality included within Innovid's ad serving solutions, Innovid XP offers converged TV measurement across the TV universe, enabling accurate, always-on, identity-enabled measurement and attribution, at scale, for advertisers everywhere - driving brand growth and maximizing audience reach. Innovid XP was enabled by the acquisition of TVSquared (TVS), an independent global measurement and attribution platform for converged TV, in Q1 2022. The company's global, independent measurement platform for linear TV, CTV, and digital is a key differentiator for it in the industry and provides unique value for its clients.
Key features of Innovid XP include:
Reach and Frequency Measurement: Provides a holistic view of total TV media investment with cross-platform measurement, inclusive of incremental reach and ad delivery across linear and streaming campaigns.
Impression measurement across channels and audiences: accurate reach and frequency metrics; optimal reach and frequency for the greatest efficiency; and incremental reach beyond linear and across streaming platforms.
Quantify TV Impact and Business Outcomes: Measures the immediate and longer-term business impact of converged TV campaigns with full-funnel analytics and rapid speed to insight.
Online and offline outcomes; KPIs that matter - sales, registrations, app activities, web visits, in-store traffic and more; and complete TV ROI, from total campaign to individual publishers and media channels.
Inform Activation with Audience Analytics: Link authenticated household-level viewing data along the customer journey for advanced audience analytics that inform activation include audience reach and response across channels, platforms and screens; Campaign optimization for audiences most likely to convert; and First- and third-party audience data tied to ad exposure for identity resolution.
Growth Strategy
The key elements of the company's strategy are to grow with its current customers; cross-sell and upsell additional products and solutions to its existing customers; win new customer accounts; expand its international presence; expand to new customer groups; and pursue M&A opportunities
Partnerships and Integrations
Innovid's integrations are designed to automate workflow and streamline the development and distribution of advertisements, all the while saving marketers time and money. Innovid integrations include:
Campaign Workflow Integrations - Campaign management and trafficking integrations with Demand Side Platforms (DSPs) like The Trade Desk and DV360, digital asset management vendors, such as AdStream for example, streamline day-to-day workflow by eliminating unnecessary work, expediting campaign launches, and minimizing reporting discrepancies. Innovid has also built custom workflow integrations for top brands and holding companies.
Brand Safety and Ad Fraud Integrations - Innovid supports deep verification, viewability, and ad blocking capabilities with vendors such as Moat, IAS, DV, and Comscore.
Media Providers and Walled Garden Integrations - Innovid's independent third-party ad tags are accepted by media providers and content platforms globally. Innovid is a Google Preferred Measurement Partner and is fully integrated with Google's Ads Data Hub. Innovid is also a Preferred Creative Partner of Meta.
Data and Creative Personalization Integrations - Innovid maintains server-to-server integrations to enable ad decisioning from audience segments and/or IDs passed from partners. We integrate with leading Data Management Platforms ("DMP") such as LiveRamp, Oracle, Neustar, Salesforce, and Adobe. Innovid also supports creative decision-making based on audience data passed directly from the brand's choice of Demand Side Platform. Examples include, but are not limited to Adobe, Verizon Media and The Trade Desk.
Creative Ad Authoring Integrations - Innovid provides full flexibility for designers and developers to curate ads through any combination of internal, external, and/or code-based tools. Integrations include Adobe Photoshop, After Effects, and Google Web Designer.
Brand Research and Attribution Integrations - Brand study partners directly integrated with Innovid include Comscore, Nielsen DAR, and Kantar (Millward Brown). Innovid is also able to implement third-party pixels to support direct tracking or pursue deeper integrations with other third-party measurement providers.
Data Visualization Integrations - Third-party data processing and analytics tools can tap into Innovid's Data API or connect to a raw data feed to receive Innovid data for further analysis.
Third Party Ad Server Integrations - Innovid enables brands to leverage the power of its omni-channel ad serving and analytics platform through 1x1 pixels, while continuing to use other ad servers to manage their search campaigns and multi-touch attribution goals.
Certifications and Accreditations
Innovid is deeply invested in ensuring the accuracy of the company's ad delivery and measurement on behalf of its clients. Proactive publisher certification prior to campaign launch can significantly reduce the number of data discrepancies and/or errors.
Innovid's publisher certification process is supported via a dedicated certification team that maintains a database of thousands of publishers, networks, and exchanges. The process is made up of both a functional and discrepancy test to ensure all ads are rendered at their highest possible quality, all pixels are firing correctly, and reporting is as expected. The company's team certifies publishers pre-campaign, verifying compliance with Interactive Advertising Bureau (IAB) and MRC standards. When ads are uploaded to the company's platform its system automatically references Innovid's publisher certification database. Our automatic encoding engine then instantly resizes ads to individual publisher specs, from a single asset, to meet the requirements for each partner on a media plan.
Innovid also holds industry-leading MRC accreditations, a common standard for media transacting with leading advertisers, spanning CTV, video and display ad formats. The MRC establishes industry standards for valid, reliable and effective media measurement. Innovid has been accredited with the MRC since 2013 for impressions and viewable impressions on desktops, mobile webs, and mobile apps. In 2018, the MRC granted Innovid the first ever MRC accreditation for OTT video ad impression measurement, cementing an important milestone in the industry's ongoing evolution in this space. As a result of this accreditation, Innovid's accredited metrics and methodologies have been independently vetted by the MRC to confirm they are valid, reliable and effective.
Customers
The company counts many of the world's largest brand advertisers as customers, including Anheuser-Busch InBev, CVS Pharmacy, Kellogg's, Mercedes-Benz, Target, Sanofi, and more. As of December 31, 2023, over 50% of the top 200 large advertisers by TV US advertising spend according to MediaRadar leveraged the company's platform. The majority of the company's customers typically come from large global enterprises across all major industry verticals, including consumer packaged goods, pharmaceutical and healthcare, retail, financial services, automotive and technology. While a majority of Innovid's revenue is generated within the United States, Innovid also serves customers across the globe, including supporting the international needs of some of the world's largest brands. In 2023, approximately 9% of Innovid's revenue was generated by the company's customers outside of the U.S.
The company is also trusted partners to the largest streaming platform providers in the world, including Disney, Hulu, ESPN, NBCU, and Paramount, and it works closely with top advertising agencies and agency holding companies such as WPP, Publicis Groupe, Omnicom Group, Interpublic Group of Cos., Dentsu Inc., Havas Group, Horizon Media, and The Stagwell Group.
Competition
The company's primary competition in ad serving and creative personalization solutions is Google. In addition, there are several vendors that provide point solutions addressing creative personalization and DCO such as Jivox. Lastly, the company competes with providers of audience and advertising measurement, such as iSpot.
Intellectual Property
As of February 22, 2024, the company had 14 granted patents, zero pending patent applications, and seven registered trademark applications covering a variety of interactive and contextual analysis capabilities. The company has also registered domain names for websites that it uses in its business, such as www.innovid.com.
Seasonality
The company experiences fluctuations in revenue that coincide with seasonal fluctuations in the digital ad spending of its customers, in particular television ad spending patterns. Advertisers typically allocate the largest portion of their media budgets to the fourth quarter of the calendar year to coincide with increased holiday purchasing. As a result, the fourth quarter of the year typically reflects the company's highest level of revenue while the first quarter typically reflects its lowest level of revenue. The company expects its revenue to continue to fluctuate based on seasonal factors that affect the advertising industry as a whole and for these seasonal fluctuations in ad spend to impact quarter-over-quarter results (year ended December 31, 2023). The year-over-year comparison of results more appropriately reflects the overall performance of the company's business.
History
Innovid Corp. was founded in 2007. The company was incorporated in 2007 as a Delaware corporation.
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