tvScientific, a year-old tech firm, is jumping into the connected TV gold rush with a self-service platform offering optimized buying, measurement and attribution.
Co-founded by Bill Gross of GoTo.com and Jason Fairchild of OpenX, the company raised $1.5 million in seed funding led by Gross’s IdealabX and MathCapital.
“Until now, Connected TV advertising has been complex, inefficient, and not measurable in the way that digital is, preventing most businesses from advertising on the most influential screen in the house,” said Jason Fairchild, co-founder and CEO of tvScientific. “Our new platform allows businesses to buy and measure Connected TV media on one simple platform, and evaluate it the way they do with search and social.”
TVScientific said its platform has direct access to over 90% of premium CTV publishers, bypassing unnecessary technology layers. It works with SpotX, Magnite, OpenX and runs campaigns on CTV platforms including Samsung, Vizio and Roku.
“There were two reasons GoTo.com and the paid search model were so revolutionary," said Bill Gross, co-founder of tvScientific, and founder and chairman of Idealab.
"First, paid search campaigns were measurable so advertisers could see the clicks and sales that search ads generated. Second, any business could set up an account and start driving clicks in 10 minutes,” said Gross. “The combination of these two simple dynamics attracted millions of businesses to search advertising. I believe tvScientific will do the same thing for TV advertising, where we already have 200 million CTV viewers in the US, but with only a few hundred participating advertisers.”
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