Simulmedia, a New York-based company aimed at helping television companies improve ratings by lifting the effectiveness of tune-in programming spots, has raised $8 million in Series B funding. Time Warner Investments led the round, and was joined by return backers Avalon Ventures and Union Square Ventures. The company previously raised $4 million, and was founded by Dave Morgan, former founder of TACODA and Real Media.
Simulmedia, a media marketing company which helps television networks improve program ratings by lifting the effectiveness of their tune-in programming spots, today announced it has closed an $8 million Series B round of financing led by Time Warner Investments. Existing investors Avalon Ventures and Union Square Ventures also participated. In March 2009, Simulmedia, founded by Dave Morgan, raised $4 million in a Series A round from Avalon Ventures and Union Square Ventures.
The new funding will be used to continue development of the company’s predictive technology platform and set-top-box-data-driven marketing services, which collectively enable broadcast and cable networks to build audiences for their shows more effectively and efficiently by delivering the right on-air promotions to the right viewers at the right time.
In just 18 months, since its launch, Simulmedia has:
Built a data-driven TV marketing system around its patent-pending a7 platform, which can optimize the delivery of television program promotions across all existing linear television systems in the US;
Partnered with various major US television system operators to license anonymous viewing data from more than 15 million set-top boxes;
Conducted more than 30 field trials with 8 different television broadcast and cable networks; and
As part of these trials, delivered 50 – 350% more viewers per program promotion spot than conventional demographically-targeted program promotions.
“Each year the television industry spends more than $10 billion in cash and commercial time to drive viewers to new and existing programs,” says Mr. Morgan. “Simulmedia uses sophisticated data analysis and predictive technology to recommend where and when TV networks and operators should place their promotional ad spots to most effectively and efficiently deliver desirable audiences for their shows. We are very pleased that Time Warner, one of the world’s most important media companies, is investing in our vision for the future of television.”
“Dave and his exceptional team are bringing more focus and attention to an important part of the industry which has long been underserved,” says Rachel Lam, Senior Vice President, Time Warner and Group Managing Director of Time Warner Investments. “We believe that there is an incredible opportunity for targeted promotion in television, and that Simulmedia can truly help television companies get smarter about building audiences for their programming.”
In conjunction with the funding round, Ms. Lam and Thomas J. Deierlein, Simulmedia’s Chief Operating Officer will join the company’s Board of Directors.
“Avalon Ventures is very excited to participate in this financing. It’s really amazing to see the level of results that Simulmedia is already delivering for its network clients in such a short amount of time,” says Richard W. Levandov, Managing Member, Avalon Ventures.
The Time Warner Investments group (www.timewarnerinvestments.com) targets non-control strategic investments that have a clear impact on Time Warner’s divisional operations and directly enhance the Company’s ability to meet specific strategic goals. Time Warner Inc., a global leader in media and entertainment with businesses in television networks, filmed entertainment and publishing, uses its industry-leading operating scale and brands to create, package and deliver high-quality content worldwide through multiple distribution outlets.
Simulmedia, Inc. (simulmedia.com) is a New York City-based media marketing company that delivers television viewership through data-driven program promotion. The company is pioneering the development of predictive technology to help television companies deliver the right on-air promotions to the right viewers at the right time.
The company’s founder and CEO is Internet entrepreneur Dave Morgan. Simulmedia is backed by funding from Avalon Ventures, Time Warner Investments and Union Square Ventures