Samba TV, a US-based media analytics provider backed by corporates Liberty Global, MDC Partners, Interpublic, A+E Networks and Time Warner, has filed to float on the New York Stock Exchange.
Founded in 2008, Samba TV has developed content-identification software which is embedded in connected televisions and which helps it generate data on viewing habits that form the basis of optimisation tools it sells to advertisers. It has set a $75m placeholder target for the IPO.
The company’s net loss for the first nine months of the year increased from $12.7m in 2020 to just over $17m in 2021, increasing revenue from $67m to $82.8m over the same period. The offering comes after a series C round that closed at $30.1m in March 2021, according to the IPO filing.
Mass media group Liberty Global, broadcaster A+E Networks, media group WarnerMedia (then Time Warner) and marketing agencies Interpublic and MDC Partners had contributed to Samba TV’s series B round, which closed at $37.5m in 2018, the last through its MDC Ventures vehicle.
Union Grove Venture Partners, the TGM, Draper Associates and Ambition VC also participated in the series B round, which was preceded by $8m in series A funding from August Capital and assorted individuals in 2012.
David Harrison, Samba TV’s chief technology officer since 2009, owns nearly 3.9 million class A shares in the company while the directors and executives hold almost 700,000 between them.
August Capital has 6.5 million of Samba TV’s class B shares while co-founder and CEO Ashwin Navin owns nearly 4.2 million and chief operating officer Alvir Navin 1.4 million.
BofA Securities and Evercore ISI are lead book-running managers for the IPO while Oppenheimer is book-running manager and BMO Capital Markets, Craig-Hallum, Stephens and Luma Securities are co-managers.
