Ad Targeting Specialist tvScientific Raises $20m

US-based ad targeting specialist tvScientific has raised $20m in a Series A round of funding, which it will use to grow its customer base; hire for key roles in engineering, product, data science, marketing, sales and other departments; and continue developing its product.

Pasadena, California-based tvScientific offers a self-managed solution for ad buying, measurement and optimization for CTV all in one platform, using massive data sets to demonstrate actual ROI. Last year, the firm launched a CTV ad buying, measurement and attribution platform, providing direct access to more than 90% of CTV publishers. The firm claims its platform reaches 95% of AVOD (Advertising-based Video On Demand) inventory, using proprietary, deterministic ID technology to measure ad exposure to outcome.

New funding was led by Norwest Venture Partners, with participation from strategic partners NBCUniversal and Hearst Ventures, bringing the total raised to date to $23m. Jeff Crowe, Managing Partner, Norwest Venture Partners, comments: 'CTV opens the door for many new advertisers to pursue performance advertising in an effective and cost-efficient way. tvScientific has practically eliminated the friction in CTV advertising and made it far easier for businesses of all sizes to buy CTV inventory with the control, measurement and accountability they're accustomed to getting from search and social channels'.

The firm, which is led by co-founder and CEO Jason Fairchild (pictured), is online at www.tvscientific.com .