TidalTV Completes $16 Million Second Round Funding With Comcast Backing

Video ad network TidalTV has completed the $16 million second round funding it initiated last fall, Mediapost reports. As we reported in October, the Baltimore-based TidalTV raised an initial $8.9 million portion. Comcast (NSDQ: CMCSA) Interactive Capital, the cable operator’s venture arm, participated in the round, as did previous backers New Enterprise Associates and Valhalla Partners. TidalTV CEO Scott Ferber, the co-founder of AOL’s Advertising.com, plans to use the proceeds to expand into TV and mobile.

The company raised $15 million in its first round in Feb. ’08. While it looking to move more into TV this year, TidalTV has been fairly quiet in those efforts since it signed a content-licensing deal with CNBC to stream news updates and long-form TV specials over a year ago. Along the way, the company dealt with an executive shake-up, which have slowed down its growth plans.