Time Warner Inc. led an $8 million second round of funding in TV-marketing startup Simulmedia, which aims to improve the effectiveness of tune-in programming spots. Existing investors Avalon Ventures and Union Square Ventures also participated.
Simulmedia said it has partnered with pay-TV operators to license anonymous viewing data from more than 15 million set-top boxes. The startup also claims to have conducted more than 30 field trials with eight different television broadcast and cable networks.
"We believe that there is an incredible opportunity for targeted promotion in television, and that Simulmedia can truly help television companies get smarter about building audiences for their programming," Rachel Lam, senior vice president at Time Warner Inc. and group managing director of Time Warner Investments, said in a statement.
In March 2009, Simulmedia, founded by Dave Morgan, raised $4 million in a Series A round from Avalon Ventures and Union Square Ventures.
New York-based Simulmedia said the new funding will be used to continue development of the company's predictive technology platform and set-top-box-data-driven marketing services.