ISpot some cash!
TV ad measurement company iSpot.tv has raised $30 million in a Series C funding round, bringing its total to $57.8 million, the company’s CEO and founder Sean Muller told AdExchanger on Tuesday.
Investors Insight Venture Partners and Madrona Venture Group led the round. No investors took money off the table.
ISpot will use the new funds to hire more data scientists and engineers to work on releasing new products and features, especially as measuring OTT becomes more complicated.
“We’re going to hire more consultative senior folks to become more strategic with our clients,” Muller said. “Our clients look at us as understanding how they should be architecting their marketing stack.”
ISpot.tv last raised money in a Series B round in 2015. That funding went toward improving the company’s measurement products.
“Usually you raise money in order to do something,” Muller said. “We actually raised money because everything is working so well.”
Ispot, which was founded in 2012, provides impression-based and attention measurement for its customers. The company does not do targeting and instead acts as a “neutral third party” for its customers, says Muller.
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.
ISpot was originally a search engine and database for TV advertisements. It has since moved away from being a database and become a measurement service for TV companies.
