Simulmedia, a television advertising company which deploys a TV audience database and internet methodologies to sell targetted ads, has closed a $25m series D funding round led by new investor, US hedge fund Valiant Capital. Also participating in the financing round were: Time Warner Investments, the strategic investment arm of US-based media company Time Warner; R&R Venture Partners, a new investment firm co-founded by former Time Warner chief executive officer (CEO) Richard Parsons and US businessman Ronald Lauder; Avalon Ventures, a US-based venture capital fund; Union Square Ventures, a US-based venture capital; and boutique investment bank Allen & Company.
The funds will be used to build out technology, sales and service.
Previously, the company closed a $6m round from existing investors Avalon Ventures, Square Ventures and Time Warner Investments in 2012.
Dave Morgan, Simulmedia’s founder and chief executive officer, said: “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 ten or more years.”
Rich Levandov, a partner at Avalon Ventures, said: “Simulmedia became profitable this quarter for the first time, as audience-based buying on TV went from ‘interesting concept’ to large scale testing. Buyers are now building it in as part of their core TV media strategies. Clearly, Dave and his team have laid a solid foundation for a very profitable future and we are excited to be part of it.”