TRA, a software company that makes it easy to measure the impact of TV ads, has raised $18.2 million in a third round of funding.
About $10 million of the amount came from Intel Capital, which led the round. TRA provides a business intelligence platform. It matches data on the TV viewing habits of 1.5 million households with data on the purchase habits of 54 million homes. It thus comes up with a purchase tracking and TV measurement for a subset of 370,000 households.
The company will use the funding for market expansion, technology development, data acquisition and hiring. TRA launched the platform two years ago and customers such as broadcast and cable TV networks have been using it to show the effectiveness of their program advertising to media planners. TRA’s tools thus allow advertisers to target the right audiences for their products more easily. “Media is driven by advertising and advertising in the 21st century is driven by data,” said Arvind Sodhani, president of Intel Capital and Intel executive vice president. Funding for the deal comes from the $200 million Intel Capital Invest in America Technology Fund, which is aimed at creating U.S. jobs.
Announced in February, the fund invests in U.S.-based, growth-oriented industries to foster economic recovery and development and to anchor the nation’s competitiveness on the global stage. Intel Capital has invested more than $9.5 billion in over 1,050 companies in 47 countries since 1991. About 175 companies have gone public, and 241 were acquired. In 2009, Intel Capital invested $327 million in 107 companies.
TRA was founded in 2007 and it launched its first product in 2009. It has 30 employees and investors include Kodiak Venture Partners, WPP, Arbitron, and others. It has raised $36 million and has a dozen customers including CBS and MTV Networks.