Time Warner Investments, the corporate venturing unit of the eponymous US-based media company, helped Simulmedia, a television advertising company, raise $6m on Monday last week.
Time Warner was joined in the C round by venture firms Avalon Ventures and Union Square Ventures. The deal was Simulmedia’s third round of funding and took it to $27.25m raised in total.
The company has gone from 20 to 40 employees in the last nine month and its revenue has doubled every quarter.
Rachel Lam, group managing director, Time Warner Investments, said: "We really like our investment in Simulmedia–they are game changers for the TV industry. It is the first company to bring web-like ad targeting to television and do it at scale, and the company is being rewarded with real revenue growth. We expect Simulmedia to be a very big company."