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Founders Of GoTo.com, OpenX Launch CTV Media-Buying, Performance Platform Based On Search

tvScientific, a TV ad-tech company, launched an end-to-end connected TV buying and attribution system geared toward digital marketers that value performance media. The platform, developed by two industry icons, debuted Tuesday.

The idea is to eliminate the high barriers to entry into TV advertising using a search-advertising model, making it accessible to all businesses.

Between 300 and 500 advertisers dominate the entire legacy TV media buying industry, depending on the season, said Jason Fairchild, co-founder and CEO of tvScientific. “They control about 80% of all traditional TV ad budgets,” he said. “Compare TV with paid search, where there are nine million advertisers participating. That’s a huge gap.”

tvScientific allows businesses to buy and measure CTV media on one platform. Marketers can set up a CTV media buy in 10 minutes or less, then evaluate campaigns the way it is done in search and social advertising.

Fairchild, an early executive at GoTo.com and co-founder of OpenX, teamed up with Bill Gross, who pioneered the pay-per-click advertising model at GoTo.com, to launch tvScientific. The company is based on the same PPC model that made Google billions of dollars.

tvScientific raised $1.5 million in seed funding from IdealabX and MathCapital in addition to well-known advertising-tech leaders including Tim Cadogan of GoFundMe, OpenX, Yahoo, and Overture; Tom Chavez pf super{set}, Krux; John Gentry of OpenX and Overture; and Kent Wakeford of Integral Ad Science and Kabam, among others.

The goal of tvScientific is to help companies buy and measure advertising performance, similar to search advertising.

read more at mediapost


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