Advertising research startup Simulmedia has completed a $9.25 million round of new financing from existing investors Time Warner Inc., Avalon Ventures, Union Square Ventures and founder and CEO Dave Morgan.
The company uses anonymous viewing data from more than 16 million set-top boxes in the U.S., representing 80 million hours of viewing per day, to provide analysis of the effectiveness of ad campaigns. TiVo is among the sources for Simulmedia's set-top data set.
Simulmedia raised $8 million in April 2010, following a $4 million seed round the previous year.
"The business has been growing very well and we raised the money to continue to build out our TV ad data platform and our ad sales team," Morgan said in a statement.
In the past year, Simulmedia has worked on more than 45 national ad campaigns to help marketers improve their ability to target demographic profiles. The company claimed it has delivered results 25% to 300% better than traditional TV ad scheduling and targeting methods.
Morgan founded New York-based Simulmedia in 2008. Earlier this year the company hired Brian Wieser, head of global forecasting for MagnaGlobal, as chief marketing officer responsible for marketing and strategy.
Other companies that provide set-top data-based research services include Google, Nielsen, Rentrak, Kantar Media, TiVo and TRA.