Edinburgh-based ad analytics firm TVSquared gets $6.5m

Edinburgh-based analytics platform TVSquared has received $6.5m in a round led by West Coast Capital.

The company also drew support from the Scottish Investment Bank (SIB), which matched the funding, along with existing investors.

Today’s announcement follows on from the closure of a $3m round in August last year.

Speaking about the news, Calum Smeaton, TVSquared’s CEO and founder, said: “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 optimise TV for the greatest response,” added Smeaton.

With this round, the company brings its total raised to $9.5m.

Paul Davidson, managing partner at West Coast Capital, commented on his decision to invest: “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,” he concluded.