Ad targeting start-up vendor Simulmedia has closed an $8 million financing round led by Time Warner Investments. Founded by advertising veteran Dave Morgan, Simulmedia is developing technology that uses anonymous viewing data culled from set-top boxes to help operators more effectively target advertising.
The company has conducted 30 field trials with U.S. cable providers gathering user data from 15 million set-tops covering eight broadcast and cable networks in the last 18 months. It claims it's getting results, having delivered "50 to 450 percent more viewers per program promotion spot than conventional demographically targeted program promotions," the company said.
Simulmedia said the money, which included contributions from Avalon Ventures and Union Square Ventures, will be added to the $4 million it raised last year to continue product development.
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