×
You will be redirected back to your article in seconds

TV Ad Tracker iSpot.tv Raises $30 Million in Funding

Riding a growth curve in TV advertising analytics, iSpot.tv announced an additional $30 million of investment capital.

The Series C round in iSpot, founded in 2012, was led by existing investors Insight Venture Partners and Madrona Venture Group. It brings the total investment in the company to $57.8 million to date.

Sean Muller, iSpot’s founder and CEO, told Variety the company will use the new funding to expand hiring across all areas of the business, including engineering, data science, product, customer services and consulting, and sales and marketing. The Bellvue, Wash.-based company has 155 employee today, with plans to grow headcount to around 200 by early 2019, he said.

The privately held company doesn’t disclose financials, but according to Muller annual revenue from core subscriptions has more than doubled in each of the last five years and increased 14-fold since iSpot’s last round of equity financing in May 2015.

“The reason we’ve been growing so rapidly is that there’s a real shift in the industry for advertisers to move beyond age and gender in TV, to have more transparency, and think about their media on TV in the context of business outcomes,” Muller said.

For now, iSpot is focused on the U.S. market, and isn’t looking at expanding internationally.

Using anonymized data from more than 9 million smart TV devices, iSpot provides real-time media measurement and performance metrics. Clients use the data to validate TV impressions, measure creative wear, correlate exposure rates to digital actions and sales lift, and predict how best to reach actual customers. According to iSpot, its system can verify ad impressions and time on screen across all formats, including national TV (live and time-shifted), local TV, VOD, over-the-top video, and addressable ads, and benchmark ad viewing behaviors, persistently, at scale

Muller declined to comment on iSpot’s valuation following the latest round of funding, which closed in mid-September. The company is close to being profitable and still has capital from its last fund-raise three years ago. “We didn’t need to raise capital – which is the best time to raise capital,” Muller said, adding that 10 different investor groups had approached iSpot about joining the round.

Insight Venture Partners managing director Jeff Lieberman, commenting on the funding round, said about iSpot, “Becoming a trusted, truly independent third-party measurement company for the world’s largest brands is an excruciatingly difficult process very few companies have accomplished in the last few decades.”

Clients of iSpot include T-Mobile, TripAdvisor, Dish Network, CBS, NBCUniversal, Fox, Lionsgate, Amazon, Facebook, Disney, Warner Bros. and Viacom.

More TV

  • A.P. BIO -- "Melvin" Episode 208

    'AP Bio' Canceled After Two Seasons at NBC

    “AP Bio” has been canceled at NBC. Series creator Mike O’Brien shared the news with fans on Twitter, writing that “This has been my favorite project of my life.” In the single-camera comedy, Glenn Howerton portrayed a disgraced Harvard philosophy scholar who lost out on his dream job and was forced to return to Toledo, [...]

  • James Holzhauer $2 million

    'Jeopardy!' Champion James Holzhauer Hits $2 Million Winnings Milestone

    This current “Jeopardy!” player has just won over $2 million on the popular game show. Who is James Holzhauer? The 34 year old professional sports gambler from Las Vegas has hit a “Jeopardy!” milestone by becoming only the second person in the show’s history to win over $2 million in regular season play. Holzhauer won [...]

  • Kanye West Shares a Memory of

    Kanye West Shares a Touching Memory of His Mother in Letterman Interview

    In a preview of David Letterman’s interview with Kanye West, which begins streaming next Friday, May 31, the musician’s wife Kim Kardashian West, tweeted a clip of him sharing a touching memory of his mother, Donda, who died in 2007 after a surgical procedure. While his wife looks on smiling, West answers Letterman’s question about [...]

  • CNN Lays Off Some Health Journalism

    CNN Lays Off Some Health Journalism Staffers

    CNN has laid off a handful of staffers from its health-journalism unit after deciding to place its health, climate and Southeastern newsgathering operations under a single aegis. ” As part of the normal course of business, our newsgathering team made a small restructure earlier this week that ultimately impacts 6-7 employees within CNN’s Health Unit,” [...]

  • Henry Ian Cusick

    'Lost' Star Henry Ian Cusick Signs With Buchwald (EXCLUSIVE)

    Henry Ian Cusick, best known for playing Desmond on the hit ABC series “Lost,” is signing with talent agency Buchwald for representation. Cusick also starred in the CW sci-fi/drama “The 100” and was most recently seen in the Fox series “The Passage.” His other notable television credits include “Scandal,” “24,” “Fringe,” “The Mentalist,” “Body of [...]

More From Our Brands

Access exclusive content