Valiant Capital joins roster of upstart firm's investors
In a signal of advertisers’ increased interest in advanced forms of television advertising, Simulmedia, a company specializing in so-called “targeted” TV advertising, said Tuesday it had closed a $25 million Series D round of funding led by new investor Valiant Capital.
Others participating include R&R Venture Partners, a new fund created by Dick Parsons and Ronald Lauder, and existing investors Avalon Ventures, Union Square Ventures, Time Warner Investments and Allen & Company. Simulmedia said it had raised nearly $59 million since its founding in 2009.
“The new funds will be used specifically to build out our technology, sales and service,” said Dave Morgan, Simulmedia’s founder and chief executive, in a prepared statement. The company said it turned a profit for the first time this quarter.
Simulmedia helps advertisers better direct where their ads should appear, utilizing anonymous viewer data and other technologies. As more viewers make use of video on demand and streaming video delivered via the Internet, one theory posits that video advertising could be distributed based on new kinds of data to more discrete groups of audience, making TV commercials more relevant to an audience base likely to have more interest in what is being sold and promoted.