TV Ad Measurement Firm EDO Raises $80m

TV ad measurement specialist EDO has raised $80m from media and comms sector investor Shamrock Capital. EDO will use the funds to grow its team, enhance its Ad EnGage convergent TV analytics platform, and expand its partner network and data sources.

Founded in 2015 by Edward Norton and Daniel Nadler, New York City, San Francisco and Los Angeles-based EDO applies data science and behavioral metrics to help marketers, TV networks, streaming platforms and movie studios generate greater value from their creative efforts and media investments. According to the company, its metrics align marketing with sales and finance, 'providing confidence in the efficacy of advertising dollars' through competitive, category, historical, and predictive insights.

Commenting on the funding, which brings EDO total raised to date to $92m, EDO CEO Kevin Krim (pictured) said: 'We've fundamentally changed what is expected from the effectiveness of TV advertising - weak proxies and soft signal don't cut it anymore when our customers know they can get real-time, always-on measurement that confidently predicts business outcomes and allows them to optimize while campaigns are in flight. We're thrilled to earn the support of Shamrock Capital, which shares our vision and brings an outstanding track record of helping companies turbocharge their growth.'

Web site: www.edo.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.