TVSquared, an Edinburgh-based company which offers measurement and optimization of TV ads, has raised an additional $6.5 million. The round was led by West Coast Capital, with matched funding from the Scottish Investment Bank (SIB), Scottish Enterprise’s investment arm, along with existing investors.
TVSquared was founded in 2012 and provides same-day measurement and optimization opportunities for TV advertisers. With TVSquared’s timely insights into the “who, what, when and where” of TV, brands, agencies and networks proactively improve campaign performance. According to TVSquared, its clients on average optimize campaigns by 25%, reduce cost per response by 25% and increase sales and registrations by 30%. The young company is headquartered in Edinburgh, and has offices in New York, Los Angeles and London.
Calum Smeaton, TVSquared’s CEO and founder, stated: “Global TV advertising is continuing to grow at an astounding rate because TV is the most effective marketing channel. With 87% of viewers watching with second-screen devices nearby, TV is now even more powerful as a primary driver of digital activity. This funding will help us continue to provide advertisers with the technology they need to optimize TV for the greatest response.”
Paul Davidson, managing partner, West Coast Capital, who led the latest funding round, commented: “TVSquared’s technology is being used by some of the world’s biggest brands to disrupt and measure the effectiveness of the $202 billion TV advertising market. This funding round positions TVSquared for continued growth and secures a world-class technology and team for that growth.”
Check out the video below to learn more about TVSquared and how their measurement and optimization technology works: