Simulmedia nearing new $6m funding deal
US— TV ad targeting and measurement firm Simulmedia is close to securing a new $6m round of funding from existing investors Avalon Ventures, Union Square Ventures and Time Warner Investments.
The cash will be used to help finance the firm’s targeted ad network and follows a $9m investment 12 months ago.
Simulmedia uses set-top box viewing data to match programme audiences with appropriate advertising and also analyses the effectiveness of campaigns.
The company was launched in 2008 by CEO Dave Morgan, the founder of online advertising firm Tacoda.
Morgan (pictured) said: “It is highly gratifying to have your early stage investors stay with you as you grow. And grow we have. Over the past nine months the company has gone from 20 to 40 employees and revenue has doubled every quarter.”