Scotland business

TV analytics firm raises £5.2m in funding

TV Squared ad Image copyright TV Squared

Television advertising analytics firm TV Squared has raised £5.2m through a new funding round led by Sir Tom Hunter's investment vehicle, West Coast Capital.

The Edinburgh-based company offers an optimisation and measurement platform for TV advertisers.

West Coast's funding was matched by Scottish Enterprise's investment arm, the Scottish Investment Bank.

TV Squared has offices in New York, Los Angeles and London.

Chief executive and founder Calum Smeaton said: "Global TV advertising is continuing to grow at an astounding rate because TV is the most effective marketing channel.

"With 87% of viewers watching with second-screen devices nearby, TV is now even more powerful as a primary driver of digital activity.

"This funding will help us continue to provide advertisers with the technology they need to optimise TV for the greatest response."

Kerry Sharp, head of the Scottish Investment Bank, said: "TV Squared is another example of an ambitious technology company starting in Scotland, successfully operating in international markets and attracting further investment to support its continued growth."

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