US-based television advertising software provider Simulmedia has secured $29m in a series E round that included media group WarnerMedia.
The round was led by venture capital firm Union Square Ventures (USV) and also featured VC firm Avalon Ventures and hedge fund manager Valiant Capital.
Founded in 2008, Simulmedia has developed a software platform that enables brands and companies to create TV advertising campaigns tailored to programs, networks and time segments that perform best with their targeted audiences.
Valiant Capital led a $25m series D round for the company in 2013 that included Time Warner Investments, the strategic investment arm of media company Time Warner, which evolved into WarnerMedia, as well as Avalon Ventures, USV, R&R Venture Partners and investment bank Allen & Company.
Time Warner Investments, Avalon Ventures and Square Ventures had provided $5m in funding for Simulmedia earlier in the year. It raised $6m in 2012, according to a securities filing, having secured $9.3m from undisclosed investors the previous year.
Time Warner Investments had already backed a $8m round for Simulmedia in 2010, adding to $4m series A round the company sourced from Avalon Ventures and Union Square Ventures in 2009.