Targeted promo company picks up $8M in VenCap
Time Warner’s investment arm led an $8 million venture round for Simulmedia.
The company specializes in a very narrow category of targeted advertising; it has designed a platform that terrestrial and cable networks can use to improve ratings by targeting their on-air promotions, using information drawn from set-tops and other data.
Joining Time Warner Investments in the Series B funding round were previous investors Avalon Ventures and Union Square Ventures. The company raised $4 million in its Series A round.
Simulmedia said its platform can optimize the delivery of television program promotions across all existing linear television systems in the U.S.
The company said it is partnered with “various major U.S. television system operators” to license anonymous viewing data from more than 15 million set-top boxes.