True[X] Media Raises $6 MillionThursday, May 22, 2014
True[X] Media, an interactive ad developer in Brentwood, has raised $6 million in additional funding from previous investors Pinnacle Ventures, Norwest Venture Partners, Jafco Ventures and Redpoint Ventures.
The company received a $20 million Series D round from the same backers in 2011 when the company was named SocialVibe. The $6 million financing is an add-on to that round. The company has raised nearly $50 million since its founding in 2007.
True[X] creates online interactive commercials for companies including Toyota Motor Corp., Best Buy and American Express.
True[X] added several major names to its board in April, among them James Murdoch, co-chief operating officer of 21st Century Fox; Jonathan Miller, former chief executive of AOL, and Mich Mathews, former chief marketing officer of Microsoft.
True[X] is co-headquartered in Los Angeles and New York, though about 40 employees work out of its Brentwood office compared to 20 back East. A company spokeswoman said a few staff members are bi-coastal and that True[X] is “hiring fast.”
True[X] also maintains smaller offices in Chicago, Atlanta and Seattle. News of the funding round was first reported by TechCrunch.