SpotX is making a strategic investment in SpringServe, an ad-serving platform for OTT and connected TV.
SpringServe offers ad serving, optimization, and automation solutions across devices, and includes tools such as inventory routing, customized ad experiences, and advanced podding logic. SpotX offers programmatic technology to several media companies and said it now reaches four out of five ad-supported connected TV viewers in the U.S.
The companies said they will work together on new product features while jointly offering customers ad serving, inventory management and programmatic capabilities.
"SpotX remains focused on creating the most advanced video advertising platform with a diverse set of tools that brings market leading technology to media owners as well as services that provide tangible benefits to advertisers," said Sean Buckley, COO at SpotX, in a statement. "SpringServe's steadfast approach to enabling seamless, effective ad serving for OTT publishers is something we have followed closely, and our investment in their company is a logical next step to build on our existing partnership while also enhancing our capabilities for partners."
SpringServe is based in New York and was founded in 2015 to provide a suite of ad serving tools. The company said the investment by SpotX will be used to bolster product and engineering efforts and for research and development.
"We're thrilled about the investment from SpotX and view it as reinforcement that SpringServe's CTV ad serving solution is helping publishers, broadcasters, and content creators holistically manage their advertising inventory," said Joseph Hirsch, CEO at SpringServe, in a statement. "This investment and future collaboration will further strengthen our best-in-class ad serving solution and will help us continue our mission to improve CTV advertising for our partners and end-users."
This investment comes after last year SpotX fully acquired the UK-based server-side ad insertion (SSAI) solutions provider Yospace in 2019.