Scottish adtech company TVSquared has raised an additional $6.5 million, following a $3 million round in August. The investment came from West Coast Capital, with matched funding from the Scottish Investment Bank (SIB), Scottish Enterprise’s investment arm, in addition to existing investors.
TVSquared provides same-day optimization opportunities for TV advertisers. Using the company’s targeted insights into the “who, what, when and where” of TV, brands, agencies and networks are able to improve the performance of their ad campaigns. TVSquared reports that their clients are on average able to optimize their campaigns by 25%, reduce cost per response by 25%, and increase sales and registrations by 30%.
TVSquared works with hundreds of brands, agencies and networks in more than 50 countries to improve TV campaign efficiency by measuring and optimizing TV, bolstering on-air spot performance, and informing media plans.
“TV is a powerful customer acquisition tool, and we work closely with our portfolio companies to properly infuse it into their marketing mix," said David Briefstein, head of Comcast Ventures' Accelerate program, in a statement. "By using TVSquared to measure the impact of our TV spend, we are able to quickly optimize media plans to drive rapid improvements in response metrics, and scale spend accordingly.”
“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," added Paul Davidson, managing partner of West Coast Capital. "This funding round positions TVSquared for continued growth and secures a world-class technology and team for that growth."
Read more: Business Wire