TVSquared, the TV analytics and optimization has raised $8 million in funding to accelerate its market expansion. The latest round was led by private equity partnership, West Coast Capital, and supported by existing investors, including the Scottish Investment Bank.
This new investment brings the total equity funding raised by the company to over $21 million.
TVSquared provides a performance-driven marketing channel to more than 700 brands and agencies worldwide. Its ADvantage platform measures the impact of TV advertising, providing insight to enable campaign optimisation of responses to maximise the efficiency of marketing spend.
Ongoing Research and Development
A percentage of the latest round of funding will go toward TVSquared’s ongoing research and development. Recent product advances include audience-level insights to understand exactly who is responding to TV and optimize spend for those target audiences. TVSquared also launched SearchSync 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 maximizing TV-driven response.
Calum Smeaton, CEO and Founder, TVSquared, told DIGIT: “TVSquared gives advertisers a deep understanding of TV’s business impact. We help our rapidly expanding client base hold TV accountable by uncovering exactly how ads drive real-world response. Not only that, we give them the insights to consistently optimize that performance.”
The company, which is headquartered in Edinburgh, also has offices in London, New York and Los Angeles. In November 2017 TVSquared expanded to Munich with the acquisition of wywy.
Chris van der Kuyl, the Chairman of TVSquared, told DIGIT: “On behalf of the Board, we are delighted at the close of this latest round of funding, which will fuel TVSquared’s global growth. The support of our current shareholders means that the team can focus on delivering fantastic products to an ever-growing audience.”
Paul Davidson, Partner, West Coast Capital, said: “In 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.
“Its 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. TVSquared has been a great addition to our strong portfolio of technology businesses.”
Accelerating Growth and Happy Customers
Stephen Trombala, Partner, Shepherd and Wedderburn, TVSquared’s corporate law firm: “TVSquared’s financing is a testament to its experienced management team, matched with sophisticated European and U.S. investors deploying new capital to accelerate growth. We wish them every success in the future.”
Jennifer Metcalf, Director of Global Media at GoDaddy, one of TVSquared’s customers, said: “With TVSquared, we measure and optimize our TV investments in the same way we do our digital buys. We know exactly what aspects of the buys are performing, and have the insights to make quick changes to maximize response. We use ADvantage to understand and then optimize our TV across 10+ markets.”