Global TV Performance Analytics Provider, TVSquared, Raises $8 Million
EDINBURGH and NEW YORK, 9 April 2018 – TVSquared, the gold standard for TV performance analytics and optimisation, has raised another $8 (£6) million in funding to support and accelerate its market expansion. To date, equity funding totals more than $21 (£15.4) 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 ADvantage platform quickly measures the impact of TV advertising, providing insights to optimise campaigns for response and maximise the efficiency of marketing spend.
Jennifer Metcalf, Director of Global Media, GoDaddy: “With TVSquared, we measure and optimise 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 maximise response. We use ADvantage to understand and then optimise our TV across 10+ markets.”
Calum Smeaton, CEO and Founder, TVSquared: “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 optimise that performance.”
With offices in Edinburgh, London, New York, and Los Angeles, TVSquared recently expanded to Munich with its purchase of wywy. The acquisition brought real-time spot detection technology to ADvantage, making the time-to-TV insights even faster.
Chris van der Kuyl, Chairman, TVSquared: “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: “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.”
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.”
In part, the latest round of funding will go toward TVSquared’s continuous research and development. Recent product advances include audience-level insights to understand exactly ‘who’ is responding to TV and optimise 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 maximising TV-driven response.
About TVSquared TVSquared is the gold standard for TV performance analytics and optimisation. More than 700 brands, agencies, and networks in 70+ countries use TVSquared to optimise TV-driven response, maximise spend, and improve campaign effectiveness by up to 80%. Learn more at www.tvsquared.com.
About the Scottish Investment Bank The Scottish Investment Bank (SIB) is the investment arm of Scotland’s main economic development agency, Scottish Enterprise, operating Scotland-wide in partnership with Highlands and Islands Enterprise. It manages a suite of co-investment funds including the Scottish Co-investment Fund and the Scottish Venture Fund, which are partly funded by the European Regional Development Fund (ERDF), and the Renewable Energy Investment Fund on behalf of the Scottish Government. SIB is also an investor in Epidarex Capital’s life sciences fund and is a participant in the Scottish European Growth Co-Investment Programme funded by the Scottish Growth Scheme alongside the European Investment Fund. SIB provides a team of Financial Readiness specialists to help companies prepare for new investment and access appropriate finance. SIB’s activities support Scotland’s SME funding market to ensure businesses with growth and export potential have adequate access to growth capital.