ScanScout lands $7m in financing

ScanScout said today it has closed on a $7 million first round of institutional funding.

The Boston company provides performance video technology that expands online video advertising opportunities.

The funding round was led by General Catalyst Partners, a Cambridge venture capital firm.

Proceeds from the funding will be used to accelerate ScanScout's growth, including product development and staffing needs, the firm said.

A key challenge for the industry has been how to best monetize and deliver video content while preserving a favorable user experience and protecting advertisers, General Catalyst Partners said; ScanScout technology helps solve that challenge by providing brand protection to ensure that an advertiser's message will only be seen adjacent to the most appropriate content.
(By Chris Reidy, Globe staff)