Edinburgh-based TVSquared raises an additional $8m
Ad analytics firm TVSquared has done it again.
The Edinburgh-based company has raised an additional $8m (£6m) in funding to boost its market expansion.
TV Squared, which acquired a German counterpart last year, has now raised more than $21m to date.
This round was led by private equity partnership West Coast Capital, and supported by existing investors in the company, including the Scottish Investment Bank.
Essentially, TVSquared makes TV a performance-driven marketing channel for, it claims, more than 700 brands and agencies across the globe.
Its ADvantage platform measures the impact of TV advertising, and provides insights to optimise campaigns for response and maximise the efficiency of marketing spend.
Calum Smeaton, CEO and founder, TVSquared: “TVSquared gives advertisers a deep understanding of TV’s business impact. We help our rapidly expanding client base hold TV accountable by uncovering exactly how ads drive real-world response. Not only that, we give them the insights to consistently optimise that performance.”
The company has offices in Edinburgh, London, New York, and Los Angeles.
Chris van der Kuyl, chairman of TVSquared, said: “On behalf of the Board, we are delighted at the close of this latest round of funding, which will fuel TVSquared’s global growth. The support of our current shareholders means that the team can focus on delivering fantastic products to an ever-growing audience.”
Paul Davidson, Partner, West Coast Capital, added: “In the two years we have invested in TVSquared, it has established itself as the premier provider of TV advertising analytics for brands, agencies, and networks. Its technology, vision, and team are world class, and we look forward to seeing it continue to innovate the way TV can be used as a marketing channel. TVSquared has been a great addition to our strong portfolio of technology businesses.”
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