Simulmedia, a video ad startup, has closed its fourth round of funding at $25 million, the company announced today.
Simulmedia helps TV advertisers target audiences using anonymous viewing data from more than 50 million US TV viewers. It also helps those advertisers measure their results. The company sees a big opportunity to grab a larger portion of the billion dollar TV ad industry’s budget as more TV networks opt to push their content via streaming video platforms. Simulmedia also saw its first profits this quarter.
The startup said it plans to use the additional funding to further develop its technology, grow sales, and expand its service.
The funding round itself was led by new investor Valiant Capital, with participation from R&R Venture Partners, a new fund created by Dick Parsons and Ronald Lauder, Avalon Ventures, Union Square Ventures, Time Warner Investments, and Allen & Company.
“Having a major West Coast investor, I believe, reflects that Silicon Valley now realizes that disruption/optimization of the TV ad market will be a leading driver of the redistribution of hundreds of billions of ad dollars over time as all of TV becomes Internet Protocol delivered and on-demand over the next 10 or more years,” said Simulmedia founder and CEO Dave Morgan in a statement.
Founded in 2009, the New York-based startup has raised a total of $59 million in funding to date.