Connected TV marketing platform company ColorTV has picked up $1.5 million in seed funding, led by Foxconn, the San Francisco start-up announced July 13.
The data and advertising company caters to Apple TV, Android TV and Amazon Fire TV, offering discovery and analytics solutions for connected TV and over the top platforms.
"Television advertising is king, with over 172 billion spent globally each year, yet brands can not predictably market on TV like they can online,” said Giancarlo Maniaci, CEO and cofounder of ColorTV, in a statement. “ColorTV is helping to change that. With the rise in cord cutting, growth in Connected TV and newly launched Apple and Android TV app stores, ColorTV simplifies marketing on TV like it's done on the internet.”
The company was founded by the founders of mobile ad company TapIt.com, and includes former employees of Google, Samsung, Millennial Media and Tapjoy.