MirriAd Wins â€˜Best Structured Dealâ€™ Award
31 July 2008, London, UK â€" The innovative funding structure of embedded advertising specialist, MirriAd, has been recognised by the British Business Angels Association (BBAA) as the â€˜Best Structured Deal between a VC and Angelsâ€™ at the associationâ€™s annual awards.
The BBAA awards are designed to raise awareness of the importance of early stage finance for the growth and success of businesses across the UK. The MirriAd deal structure brought together the existing Angel and VC investors â€" including London Seed Capital, Oxford Technology Management and South East Growth Fund â€" with a range of private investors led by Seraphim Capital.
MirriAdâ€™s technology brings unique benefit to advertisers and media content owners by seamlessly embedding advertising into any video content as if it was always there. Content owners using MirriAdâ€™s solutions can effectively monetise their assets without compromising the viewer experience, and deliver a means by which brands can capitalise on the worldwide shift from the analogue broadcast model to multi-platform, on-demand digital video delivery. It directly addresses increasing consumer avoidance of traditional and online advertising, a situation that has threatened to undermine the industryâ€™s established revenue model.
Commenting on the award Denny Wilkinson, MirriAd Director and Seraphimâ€™s Investor Director said, â€œSome investment decisions are made easy by the nature of the proposition. MirriAdâ€™s ability to dynamically insert advertising into video content is unique. It addresses a fundamental issue in the new world of video content production and distribution and opens up an international market.â€
â€œThe BBAA award is as much recognition of MirriAdâ€™s unique technology and strong management team as it is of the deal structure.â€ said David Fisher, MirriAd Director and Investment Manager for South East Growth Fund. â€œItâ€™s that combination of management strength and compelling technology, addressing a significant business opportunity, which makes MirriAd a very promising investment proposition.â€
MirriAd Chairman and Angel Investor Stephen Bullock added, â€œFor a young company, a funding structure that combines VCs with private â€˜angelâ€™ investors gives us the best of both worlds - a solid financial base to the business and access to a pool of highly relevant business and market experience.â€
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