The San Mateo, Calif.-based start-up has raised $38 million so far. MarketWatch founder Larry Kramer is chairman of its board.
BlackArrow makes technology that inserts video ads into on-demand programming, whether it is on cable or satellite TV or the web. The technology allows advertisers to buy a show regardless of format or platform. Investors have poured more than $8 billion into online video since 2005, the year YouTube was launched, according to Dow Jones VentureSource.