BlackArrow announced a strategic investment in the company by Time Warner Cable. In conjunction with the investment, Joan Gillman, president of media sales for TWC, has been named to the BlackArrow board of directors.
Time Warner Cable joins current investors Cisco Systems, Comcast Interactive Capital, Intel Capital, Mayfield Fund, Motorola Mobility, NDS and Polaris Venture Partners as financial backers for BlackArrow. The Time Warner Cable investment and the Motorola Mobility investment from last November complete BlackArrow's previously announced Series C funding, bringing the total amount raised from $20 million to $27 million.
The Time Warner Cable capital will be used for further product innovation and deployment of the BlackArrow Advanced Advertising System to programmers and New TV content distributors.