New York-based television advertising company Simulmedia announced Tuesday it raised an additional $5 million from prior investors, bringing its total funding to $32 million since its inception in 2009. The company’s backers include Avalon Ventures, Time Warner Investments, and Union Square Ventures.
Simulmedia draws on data from set top boxes and media monitoring sources such as Nielsen and Kantar to make predictions about television viewing behavior across country. It uses the information to help advertisers to reach the audiences they want at lower cost.
The latest funding will go towards further development of the company’s audience targeting platform, which gleans information from a variety of sources. Simulmedia plans to add managed data services for media owners, agencies, and advertisers. The company also wants to start drawing data from new devices such as connected televisions that are catching on with the public.
Dave Morgan, CEO of Simulmedia, is a bit of a pioneer in online marketing advertising. He previously founded online ad company Tacoda in New York, which was sold in 2007 to AOL. Prior to that, Morgan founded online ad network company Real Media, which merged with 24/7 Media to become 24/7 Real Media in New York.
