With digital TV marketing taking off in a big way, this is a good time for TV ad measurement company iSpot.tv to announce its taken $30 million in Series C funding. The round was led by Insight Venture Partners and Madrona Venture Group. This brings the company’s total funding to $57.8 million.
iSpot.tv offers real-time TV ad measurements, and now has a staff of 154 people. It counts over 200 brands as annual subscribers, and says it has grown revenue by 100 percent or more every year for the past five years.
With all parts of the company performing well, management says this funding won’t go to new projects, but to fund more of the same.
“This is really acceleration capital to double down on all that is working—more engineering, data science, and sales support, and specifically, we’ll deepen our consultative chops,” says Sean Muller, CEO and founder of iSpot.tv. “Because we’re helping so many brands take attribution and measurement in house we’re seeing demand for helping companies bake these analytics into their marketing stacks.”
The key to iSpot.tv’s growth has been its ability not only to measure ad exposure, but also to tie that exposure to actions. It’s moving brands from a focus on GRPs (gross ratings points) to one that looks at viewer behaviors. It’s able to measure exposure to live and time-shifted programming and then measure the actions viewers take—at scale.
“Traditional TV measurement is program-centric, with ad info lagging behind a few weeks. iSpot measures TV ads in real-time across all TV formats (including linear),” Muller explains. “But, more specifically, we’re measuring ads first using many of the best practices traditionally used in digital. For instance, we can verify ad impressions regardless of how ads are delivered, can track the rate of interruptions at scale, and can correlate what happens after an ad is seen on TV to what happens on digital—both upper funnel KPIs like website visits and app usage or other activities such as search and social. And we make TV more connectable from a buying perspective in that our analytics can help brands buy linear based on digital segments instead of typical age and demo GRPs.”