raises $30MN to accelerate ad measurement innovations | Media Investment | Business
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A Series C round of investment has seen TV ad measurement and analytics company gain a cash injection worth $30 million bringing the total investment in the company since launch in 2012 to $57.8 million.

ispot 26Sep2018iSpot, which delivers actionable analytics to American brands, says that it is on a growth tear. The company has built a staff of 154 people in five years, grown its annual subscription base to more than 200 blue-chip brands, and increased revenues 100% or more year-over-year for five years running, or 14x since its last round of financing in May 2015.

The company claims that its rapid market adoption comes from unique ability to measure TV advertising with digital precision and help brands definitively attribute TV ad exposures to business outcomes. It says that it will deploy the investment dollars to continue product innovations and expand customer success and sales operations. It believes that as the TV advertising market continues to rapidly fragment into multiple services and formats, its technology is able to verify ad impressions and time on screen across all formats, including national (live and time-shifted), local, VOD, OTT or addressable, and then benchmark ad viewing behaviours, persistently, at scale.

“We have entered a new era of TV advertising measurement that looks a lot more like digital, except on a medium not hampered by digital’s fraud challenges,” commented iSpot founder and CEO Sean Muller. “The most important thing isn’t exactly how a TV ad gets on a screen or what programme or service it runs against. What matters most is which factors are driving actions from customers. We’re helping brands take ownership of these insights to make greater impact on their business.”

The Series C round was led by investment firms Insight Venture Partners and Madrona Venture Group. “Becoming a trusted, truly independent third-party measurement company for the world’s largest brands is a difficult process very few have accomplished in the last few decades,” said Jeff Lieberman, managing director at Insight Venture Partners commenting on his firm’s investment. “iSpot has proven that [it is] a clear leader in their market with [its] current suite of innovative measurement products. We look forward to working together with iSpot as [it continues] to advance the TV advertising measurement space.”