We are thrilled to announce we’ve raised $20M in Series A funding, led by Norwest Venture Partners with participation from NBCUniversal and Hearst Ventures. This is a major milestone for our rapidly growing company, and a signal to the market that the tvScientific platform will play a major role in enabling millions of digital-first advertisers to participate in CTV advertising for the first time.
The cord-cutter revolution has seen over 128M+ US viewers transition to watching TV via streaming services, representing 63% of all US TV viewing time. Because CTVs are by definition connected to the internet, this astonishing shift in consumer behavior has created a massive opportunity to democratize access to TV's awesome power as an advertising medium, complete with self-serve capabilities and digital-like performance measurement.
At tvScientific, we’ve created the most sophisticated CTV performance advertising platform, allowing businesses to harness the power of TV advertising. Our platform simplifies and automates CTV buying and optimization, leveraging massive data to prove the actual value of TV advertising. Using tvScientific’s platform, marketers can see the actual ROI on their TV advertising investment at a granular level, comparable to search and social media channels.
The Series A funding will enable us to expand our CTV advertising platform to help businesses of all sizes generate measurable performance at a massive scale. To do this, we will invest in sales, marketing, account management, product and engineering and more.
Importantly, we will also continue to invest in data science and automation to both simplify CTV advertising and ensure the platform delivers automatically optimized campaigns designed to hit marketer-defined KPIs in a Facebook-like “set it and forget it” manner. We will also continue to provide our customers with highly accurate, “radically transparent” data and insights, as well as total access and control over platform data, to drive trust with marketers.
Investors like Norwest Venture Partners, NBCUniversal, and Hearst Ventures, alongside our seed investors, AperiamVentures and IdealabX, share in our passion and vision for the future of TV advertising and we are honored to partner with them to bring this vision to reality.
Needless to say, it’s been an incredible year. And we’re just getting started. A huge thank you to all of our people and to our customers for choosing tvScientific.
Co-Founder & CEO