Ottawa, Canada - Overlay.TV, a provider of online video ad technology, announced on Tuesday that it has raised $4.53 million in its first round of funding, led by Celtic House Venture Partners, EdgeStone Capital Partners and Tech Capital Partners.

Ottawa, Canada-based Overlay.TV's technology allows viewers to opt-in to receive video overlays, which provide contextual information about the content being viewed.

The overlays may be embedded in external Web pages, online shops, blogs and social network profiles.

The company will use the funds for the deployment of its technology, which is scheduled to launch in mid-February.

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http://www.overlay.tv