Advertising tech firm tvScientific wants to prove that streaming TV ads are as effective as Meta and Google ads.
The four-year-old startup has raised $9.4 million in a convertible note against a Series B fundraise — an investment it plans to put into its go-to-market, technology and data science, and product teams. Convertible notes reduce the costs companies usually face when raising straight equity.
TvScientific previously raised $20 million in a Series A round, and CEO Jason Fairchild told Business Insider that he expects to finish raising a Series B round of funding this year.
The round was led by new investors including Martin Sorrell’s S4S Ventures, BDMI, and Progress Ventures. TvScientific’s previous investors include NBCUniversal, Norwest Capital Partners, Aperiam Ventures, and Hearst Ventures
TvScientific tries to make it as easy to buy and measure streaming TV ads as it is to buy and measure Google and Meta ads. The firm specializes in technology that tracks what someone does after watching a streaming TV ad. For example, tvScientific can analyze how many people purchased a product or visited a website after watching an ad.
TV advertising is a roughly $70 billion industry made up of only about 500 advertisers, Fairchild said. But Meta and Google have millions of advertisers, and tvScientific wants the top 10% to 20% of Meta and Google’s advertisers to be its clients.
“There’s a massive opportunity to democratize access if we can appeal to the advertisers who care about KPIs like return on ad spend or cost-per-sale.”
Over time, Fairchild said that he expects more big brands that buy linear TV ads for reach and frequency will also begin buying streaming TV like performance marketing.
In addition to the fundraise, tvScientific announced that Chris Riedy, former ad sales leader at X, has joined as Chief Revenue Officer.
Below are the key slides of tvScientific’s investor pitch deck.
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