Simulmedia raises another $6m
Simulmedia the TV ad targeting firm has tapped investors for a third round funding of $6 million. The New York company has raised money from Avalon Ventures, Union Square Ventures and Time Warner Investments.
Simulmedia aims to bring like targeting to the TV ad market by using set-top box data to identify shows that advertisers should run their spots against. The goal is to more effectively target ad spend in a market that is increasingly fragmented. Instead of just buying large audiences of viewers, the startup promises to reach more viewers for less money than through traditional TV ad buying. Early results have borne that out: Simulmedia claims that it can deliver more of a target audience for an average of 75 per cent less than other networks.
The new round brings total financing raised to more than $27 million.