On Wednesday advertisement analytics startup iSpot.tv announced that it secured a $325 million investment from Goldman Sachs. ISpot was founded in 2012 had since generated $58 million in venture funding, prior to the latest raise.
In the statement iSpot said the new capital will be used to accelerate product growth. The company’s engineering and product teams will also set out to make enchantments to its platform.
“This team has modernized TV measurement and has achieved a lot of groundbreaking innovations for the industry in our first 10 years in business,” Sean Muller, CEO of iSpot, said in a statement. “As we enter our second decade, the investment and support from Goldman Sachs will help fuel the next generation of innovations and accelerate our ability to be the trusted cross-screen currency of choice.”
Based in Bellevue, iSpot helps TV networks and advertising agencies gauge the impact of their advertisements through its analytics software. According to the company, its software can provide real-time data on live ads. Accurate ad data is not only helpful for understanding if a specific ad is working, but it can also help TV networks secure funding.
Often networks will sell airtime to advisers in order to generate funds and if a network can prove the impact that ads have on its network, it can more easily sell to advertisers. According to iSpot, its software is trusted and licensed by over 400 networks.
“We have been very impressed with iSpot’s world-class data analytics software platform and proprietary systems which have been purpose-built for the increasingly dynamic video measurement space,” said Leonard Seevers in a statement, Partner and Head of Media Investment for the Private Equity business within Goldman Sachs Asset Management. “We are incredibly excited to partner with Sean and the iSpot team to drive long-term growth and value creation together.”
ISpot employs around 350 employees. In addition to its Bellevue HQ, it also has regional offices in New York City, Los Angeles and Tel Aviv.
