TVSquared, the gold standard for TV performance analytics and optimisation, has raised another $8 million in聽funding to support and accelerate its market expansion. To date, equity funding totals more than $21 million.
The latest round was led by private equity partnership West Coast Capital and supported by existing investors, including the Scottish Investment Bank.
TVSquared makes TV a performance-driven marketing channel for more than 700 brands and agencies across the globe.
Its聽ADvantage platform聽quickly measures the impact of TV advertising, providing insights to optimise campaigns for response and maximise the efficiency of marketing spend.
鈥淲ith TVSquared we measure and optimise our TV investments in the same way we do our digital buys,鈥� said Jennifer Metcalf, director of global media, GoDaddy.
鈥淲e know exactly what aspects of the buys are performing and have the insights to make quick changes to maximise response.
鈥淲e use ADvantage to understand and then optimise our TV across over 10 markets.鈥�
In part, the latest round of funding will go toward TVSquared鈥檚 continuous research and development.
Recent product advances include聽audience-level insights聽to understand exactly who is responding to TV and optimise spend for those target audiences.
TVSquared has also launched SearchSync聽for syncing TV spots with paid search. Brands can secure the top search positions in the minutes after TV spots air, taking advantage of high-interest moments and maximising TV-driven response.
鈥淭VSquared gives advertisers a deep understanding of TV鈥檚 business impact,” said Calum Smeaton, CEO and founder, TVSquared .
鈥淲e help our rapidly expanding client base hold TV accountable by uncovering exactly how ads drive real-world response.
鈥淣ot only that, we give them the insights to consistently optimise that performance.鈥�
With offices in Edinburgh, London, New York and Los Angeles, TVSquared recently expanded to Munich with its聽purchase of wywy.
The acquisition brought聽real-time spot detection technology聽to ADvantage, making the time-to-TV insights even faster.
Paul Davidson, partner, West Coast Capital said: 鈥淚n the two years we have invested in TVSquared, it has established itself as the premier provider of TV advertising analytics for brands, agencies and networks.
鈥淚ts technology, vision and team are world class, and we look forward to seeing it continue to innovate the way TV can be used as a marketing channel.
鈥淭VSquared has been a great addition to our strong portfolio of technology businesses.鈥�