iSpot Raises $30 Million in Series C Funding
iSpot.tv, the TV ad measurement company trusted by hundreds of disruptive brands, is excited to announce today that it is bolstering the rapid adoption of its industry-leading TV advertising analytics with an additional $30 million of investment capital. The Series C round was led by two prominent investment firms, Insight Venture Partners and Madrona Venture Group, and brings total investment in the company to $57.8 million since the company became the first to offer real-time TV advertising analytics at scale in 2012.
“The reason we’ve been growing so rapidly is that there’s a real shift in the industry for advertisers to move beyond age and gender in TV, to have more transparency, and think about their media on TV in the context of business outcomes,” Muller said.
Clients of iSpot include T-Mobile, TripAdvisor, Dish Network, CBS, NBCUniversal, Fox, Lionsgate, Amazon, Facebook, Disney, Warner Bros. and Viacom. Read the full article in Variety.
Business Insider, 9/26/18
iSpot founder and CEO Sean Muller said the company already works with 200 brands such as T-Mobile to help them better understand how their ads are performing, and that iSpot’s revenue has doubled over the past year.
“There is a $70 billion market that is shifting rapidly,” he told Business Insider. “The goal is not to replace Nielsen, but we see the market moving toward a performance or business outcome business.”
“We are getting a substantially larger valuation than last round and excess growth capital to fuel our increasing lead in the TV ad measurement marketplace,” he told GeekWire. “More specifically, this growth financing helps accelerate our goal of becoming the largest, most trusted, truly independent third-party measurement company for the world’s largest brands.”
This article also appeared in Elexonic.
“Usually you raise money in order to do something,” Muller said. “We actually raised money because everything is working so well.”
ISpot’s measurement is made up of six data sets: its own ad catalog, ad airing schedule, smart-TV data generated from Inscape (or Vizio), program viewing from smart TVs, US census data and a demographics panel with device graph. The company’s clients include NBCUniversal and T-Mobile.
Broadcasting & Cable, 9/26/18
“We have entered a new era of TV advertising measurement that looks a lot more like digital, except on a medium not hampered by digital’s fraud challenges,” says iSpot founder and CEO Sean Muller.
The company has built a proprietary TV commercial database, using smart TV viewing data to measure audiences and correlate viewing to business outcomes.
Broadcasting & Cable, 9/26/18
iSpot.tv, the TV ad measurement company trusted by hundreds of disruptive brands, today announced it is bolstering the rapid adoption of its industry-leading TV advertising analytics with an additional $30 million of investment capital.
Puget Sound Business Journal, 9/26/18
(Behind Paywall – see here)
“We have entered a new era of TV advertising measurement that looks a lot more like digital, except on a medium not hampered by digital’s fraud challenges,” iSpot founder and CEO Sean Muller said in a news release. Muller was one of six winners at Ernst & Young’s 2018 Pacific Northwest Entrepreneur of the Year competition in June..
PE Hub, 9/26/18
“Working in close collaboration with iSpot, we were able to develop a statistically defensible baseline,” says Tim D’Auria, Head of TV Optimization at TripAdvisor, which recently credited advanced attribution as a key factor in improved business results. “In short, we compare households exposed to our TV ads with nearly identical households that were not exposed. Differences in behavior after the ad can be attributed to TV,” says D’Auria.
This article also appeared in Venture Canvas.
Rapid TV News, 9/26/18
The company claims that its rapid market adoption comes from unique ability to measure TV advertising with digital precision and help brands definitively attribute TV ad exposures to business outcomes. It says that it will deploy the investment dollars to continue product innovations and expand customer success and sales operations. It believes that as the TV advertising market continues to rapidly fragment into multiple services and formats, its technology is able to verify ad impressions and time on screen across all formats, including national (live and time-shifted), local, VOD, OTT or addressable, and then benchmark ad viewing behaviours, persistently, at scale.
MarTech Advisor, 9/26/18
“Becoming a trusted, truly independent third-party measurement company for the world’s largest brands is a difficult process very few have accomplished in the last few decades,” says Jeff Lieberman, Managing Director at Insight Venture Partners. “iSpot has proven that they are a clear leader in their market with their current suite of innovative measurement products. We look forward to working together with iSpot as they continue to advance the TV advertising measurement space.”
iSpot.tv, a Bellevue, Wash.-based TV ad measurement company, raised $30 million in Series C funding from Insight Venture Partners and Madrona Venture Group. http://axios.link/fCkd
iSpot.tv, a Bellevue, Wash.-based TV ad measurement company, raised $30 million in Series C funding. Insight Venture Partners and Madrona Venture Group led the round.
“Traditional TV measurement is program-centric, with ad info lagging behind a few weeks. iSpot measures TV ads in real-time across all TV formats (including linear),” Muller explains. “But, more specifically, we’re measuring ads first using many of the best practices traditionally used in digital. For instance, we can verify ad impressions regardless of how ads are delivered, can track the rate of interruptions at scale, and can correlate what happens after an ad is seen on TV to what happens on digital—both upper funnel KPIs like website visits and app usage or other activities such as search and social. And we make TV more connectable from a buying perspective in that our analytics can help brands buy linear based on digital segments instead of typical age and demo GRPs.”
Digital TV Europe, 9/27/18
Companies endorsing its approach include T-Mobile. “We trust iSpot and have partnered with them to push the envelope on how our TV advertising investment is deployed and how its effectiveness is measured,” said T-Mobile EVP marketing Nick Drake.
In the US, real-time television ad measurement company iSpot.tv has received $30m in Series C funding, which it will use for continued product innovation and to expand its sales operations.
iSpot’s proprietary platform provides a complete view of TV ad activity across national, local and OTT services, enabling brands to measure attention to ad creative and connect ad exposures to business outcomes. With data from more than nine million smart TV devices, insights from the iSpot platform are used for validating TV impressions, measuring creative, correlating exposure rates to digital actions and sales lift, as well as predicting how best to reach actual customers.