TV Ad Targeting Firm Simulmedia Gets R&D Funds

New York-based TV ad targeting specialist Simulmedia has raised $29m in a Series E round of funding, which it will use for further research and development. In addition, former Turner Broadcasting President David Levy has re-joined the firm's Board of Directors.

Founded in 2009 by TACODA and Real Media founder Dave Morgan (pictured), Simulmedia provides advertisers and their agencies with TV solutions for media reporting, marketing outcomes, competitive insights and pricing. Powered by its patented VAMOS software platform, Simulmedia says its Transparent TV product delivers more effective national ad campaigns, featuring both premium over-the-top (OTT) and national linear TV inventory, at massive scale for dozens of top marketers.

Levy joined the Simulmedia Board more than two years ago, representing the interests of the firm's strategic investor Time Warner and its successor, WarnerMedia. However, he had to resign the seat when he left the company earlier this year, after 32 years with the business, and now re-joins as an independent director.

New funding has been led by long-time investor Union Square Ventures, with participation from existing investors including Avalon Ventures, WarnerMedia and Valiant Capital. In a statement, Morgan said: 'Clearly, the mission that Simulmedia was founded on more than ten years ago - to help advertisers and media owners solve the growing fragmentation, waste and opacity in TV and premium video advertising while driving more campaign yield - is resonating. That makes now the perfect time to strengthen our balance sheet as we prepare for even more growth from a surging market for a digital and data-driven approach to TV advertising'.

Web site: www.simulmedia.com .