Vidmob, a tech company with offices in Pittsfield, raises additional $110 million in venture capital | Business

A creative technology firm with offices in Pittsfield recently raised an additional $110 million in venture capital that it plans to use to accelerate its growth.

VidMob, a member company of the Berkshire Innovation Center, raised the money through a round of funding led by Los Angeles-based investment firm Shamrock Capital, and includes Drive by DraftKings, Adobe and Shutterstock. 

According to a company statement, VidMob intends to use the new investment for sales and marketing to accelerate the development of its platform, and to expand its global footprint.

Revenue at VidMob, which creates video ad content for social media platforms, has rapidly grown the last four years. As of 2021, VidMob had raised almost $100 million through three rounds of funding and was valued at $290 million, according to the Wall Street Journal.

Originally founded in 2015 as a high-tech startup building a marketplace of video editors, VidMob’s growth accelerated after the company pivoted to creating video ad content for social media platforms, a move that caused the company’s revenue to grow more than 35 times between 2019 and 2021, according to PRNewswire.

The company’s corporate offices are in New York City, but its engineering department is located in Pittsfield. It occupies the top floor of the Crawford Square building on the corner of Depot and North streets.

VidMob serves as the “creative partner” for all the major social media platforms including Google, Meta (Facebook), Amazon Ads, TikTok, LinkedIn, Pinterest, Hulu and Reddit.

“Under increased pressure to maximize every marketing dollar, improving creative effectiveness and efficiency has become a marketing imperative,” said VidMob board member Antonio Lucio in a news release. “By building strategic partnerships and game-changing integrations with the world’s leading media platforms, VidMob is giving its clients the fastest path to creative that works.”