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IAG Research Secures Equity Funds
US TV ad effectiveness ratings company IAG Research this week announced that it had closed a $47.5 million financing round from two leading sources of private equity, Insight Venture Partners and Bessemer Venture Partners.
Founded in the late 1990s, IAG claims to measures viewer response to every ad, product placement, and TV programme occurring across all broadcast and major cable networks covered in the USA. Co-Chief Executive Alan Gould says the proceeds from the financing 'will be used to accelerate the development of the technology to measure ad supported VOD, television delivered via the Internet, mobile television and video gaming. IAG's position is unique in the world of ad effectiveness measurement as it has deep relationships with both advertisers and networks.'
Speaking about the deal, Jeff Horing, MD of Insight Venture Partners, commented, 'Two things make us extremely bullish on IAG. First is the growing market for real time ad effectiveness metrics. Leading marketers have embraced IAG's ad effectiveness tools and IAG is now well positioned to become the standard by which ad effectiveness on television programming on all platforms is measured. Second is IAG's ability to deploy new measurement systems as new TV platforms (VOD, Web, Mobile) emerge. IAG's information management and technology team is by far the best in the media research space. It gives IAG the ability to build systems and deploy them in a manner unrivaled by their competitors.'
The company is online at www.iagr.net .
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