Set-top Box Specialist Simulmedia Raises $9.25m

In the US, TV ad targeting platform Simulmedia has raised $9.25m in new funding, which it will use for additional product development and to recruit new staff for its sales team.

New York-based Simulmedia was founded in 2008 by serial entrepreneur Dave Morgan, who also founded behavioral marketing firm Tacoda - bought by AOL in 2007 - and ad serving specialist Real Media.

The firm, which earlier this year opened a regional office in Los Angeles, has developed a TV ad platform that uses predictive technologies and anonymous viewing data from more than 16 million US households to help advertisers and their agencies reach their target audiences and measure the results.

In April last year, Simulmedia secured $8m in funding from Time Warner Investments. To date, the company has raised $20m, and this latest funding has been generated from existing investors.

Web site: www.simulmedia.com .