Simulmedia Raises More Funds for TV Ad Targeting

NYC-based targeted TV ad company Simulmedia has raised an additional $5m in venture funding. The firm aims to develop a managed data service as well as continuing to build its main targeting platform and integrating viewing data from emerging devices.

Simulmedia has developed a TV ad platform that uses predictive technologies and anonymous viewing data from more than 30 million US households to help advertisers reach their target audiences, and measure the results.

The latest funding comes from existing investors Avalon Ventures, Time Warner Investments and Union Square Ventures, and brings the total raised since the company's launch in 2009 to about $32m in five rounds, all from the same investors. This includes $4m in 2009, $8m in 2010, $9.25m in 2011, and $6m last May.

CEO and founder Dave Morgan (pictured) says the sum is 'only a modest amount of new capital' as the business is developing well - staff numbers have doubled but revenue has grown much faster than this.

Web site: www.simulmedia.com .