SpotX, the global video advertising platform, has announced a strategic investment in SpringServe, the ad serving platform for OTT and connected TV (CTV). Under the terms of the agreement, both companies will work together to provide joint customers with advanced video advertising capabilities, while seamlessly connecting platform customers to the advertiser ecosystem.
SpringServe offers ad serving, optimisation, and automation solutions across devices. Leveraged by publishers and content owners, SpringServe’s platform manages multiple aspects of video advertising and includes tools such as inventory routing, customised ad experiences, and advanced podding logic.
“SpotX remains focused on creating the most advanced video advertising platform with a diverse set of tools that brings market leading technology to media owners as well as services that provide tangible benefits to advertisers,” said Sean Buckley, COO at SpotX. “SpringServe’s steadfast approach to enabling seamless, effective ad serving for OTT publishers is something we have followed closely, and our investment in their company is a logical next step to build on our existing partnership while also enhancing our capabilities for partners.”
Based in New York, SpringServe was founded in 2015 by Joseph Hirsch, Hagan Major, Dave Buonasera, Matt Dearborn, and Richard Lin to provide a suite of ad serving tools that make digital advertising more efficient. The investment by SpotX will be used to bolster product and engineering efforts and for research and development, with a focus on building the next generation of CTV ad serving tools.
“We’re thrilled about the investment from SpotX and view it as reinforcement that SpringServe’s CTV ad serving solution is helping publishers, broadcasters, and content creators holistically manage their advertising inventory,” said Hirsch. “This investment and future collaboration will further strengthen our best-in-class ad serving solution and will help us continue our mission to improve CTV advertising for our partners and end-users.”
This investment serves as an indication of SpotX’s continued growth, as it fully acquired the UK-based server-side ad insertion (SSAI) solutions provider Yospace in 2019.