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More Cash for TV Ad Targeter
Fast-growing NYC-based targeted TV ad company Simulmedia will shortly close a $6m funding round, bringing its total received to date to $27.25m.
Existing investors Avalon Ventures, Union Square Ventures and Time Warner Investments chipped in. Founded and led by Internet entrepreneur Dave Morgan, the firm operates the Simulmedia Audience Network, billed as 'the world's first data-driven audience network for television', which uses predictive technologies and anonymous viewing data from more than 17m set-top boxes and 30m US TV viewers to help marketers target promotions and measure the results.
According to Morgan, the company has doubled in size to forty employees over the last 9 months, and has doubled its revenue every quarter in that time.
Rachel Lam, Group MD of Time Warner Investments says Simulmedia are 'game changers for the
TV industry' and adds: 'It's the first company to bring web-like ad targeting to television and do it at scale, and the company is being rewarded with real revenue growth. We expect Simulmedia to be a very big company.'
The company's home page is online at www.simulmedia.com .
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