New York-based startup company TVision announced its successful funding round on Monday, November 2, 2020. It specializes in analyzing and measuring television’s transformation.
The investment round was led by SIG Asia Investments, an affiliate of Susquehanna International Group (SIG). SIG is also recognized as a private global and technology firm.
Apart from SIG, other existing investors also joined the said funding round. These include Accomplice, Golden Ventures, and Jump Capital also took part in the investment round. To date, the company has now raised approximately $39 million in funding, as per its press release.
TVision is a startup company that primarily measures the number of viewers who watch television and how much attention is being paid to both linear and streaming video. It provides marketers with the information and relevant measurement data designed to help firm optimize their respective ad allocations.
According to Tech Crunch, the company started by initially measuring traditional television viewership with the use of webcams. Today, it appears that TVision is looking to transition with its latest solution geared towards connected TVs, where there is still a disconnect and a lack of standard measurement.
In a statement, chief executive officer Yan Liu said, “What I’ve found is that in streaming, there’s no such thing called a TV rating. There’s no good currency, per se, in the industry.”
Liu said that the only available metrics today are tags. While this provides advertisers with a capacity to gauge the extent of their advertisements and its reach, it does not measure how a network’s performance is against other competitors in the industry, shares Tech Crunch.
To remedy this, the New York-based startup company has made new measurement solutions. This latest approach, although somewhat traditional, makes use of a panel of connected TV watchers to provide data.
It leverages WiFi connections and signals to identify ads being played on either streaming or linear television, states Tech Crunch.
The CEO is quick to clarify that the company complies with privacy and industry regulations, saying that personally identifiable information will not be uploaded. Moreover, Liu also ensures that participating panelists will have a solid grasp regarding the data that will be shared.
Based on its press release, its recent partnership with Oracle Data Cloud’s Moat allows TVision to perform cross-platform ad measurement.
TVision currently has partnerships with some of the biggest names in television and streaming history. It counts AMC, Anheuser-Busch, Dentsu Aegis Network, Hulu, and Pepsi.
Following the investment injection, the startup firm intends to accelerate its growth and numbers. It also plans to allocate funding towards its sales, marketing, and research and development in the hopes of expanding its services.