Funds for TV Ad Measurement Firm
Scottish ad measurement and optimization firm TVSquared has raised $6.5m to fund growth, including continued development of its technology and team.
The company, which says its technology is deployed at 350 brands in 46 countries, offers a same-day television attribution analytics platform, and partnered with another technology firm, iSpot.tv, in November 2015. The latest round was led by West Coast Capital, with matched funding from the Scottish Investment Bank (SIB), part of Scottish Enterprise. As recently as August TVSquared closed a $3m round, adding to $2.5m from previous funding.
CEO and founder Calum Smeaton (pictured), says of the news: 'Global TV advertising is continuing to grow at an astounding rate because TV is the most effective marketing channel. With 87% of viewers watching with second-screen devices nearby, TV is now even more powerful as a primary driver of digital activity. This funding will help us continue to provide advertisers with the technology they need to optimize TV for the greatest response'.
Paul Davidson, Managing Partner at West Coast Capital, says the money 'positions TVSquared for continued growth and secures a world-class technology and team for that growth'; while Kerry Sharp, Head of SIB, comments: 'TVSquared is another example of an ambitious technology company starting in Scotland, successfully operating in international markets and attracting further investment to support its continued growth'.
The company is headquartered in Edinburgh, and has offices in New York, Los Angeles and London, plus a web site at www.tvsquared.com .