Admo.tv, the TV analytics platform, has raised £5.2 million (€6 million) in Series B funding to grow headcount at its London office and open new offices in Spain and Germany.
Silicon Valley-based Runa Capital, Paris-based Entrepreneur Venture and Cap Cap Décisif have led the funding round. The new round is in addition to the £1.3 million (€1.5 million) funding round completed in 2016 with Entrepreneur Venture and Kerala Ventures.
Admo.tv, which is headquartered in Paris, enables ad buyers to measure and optimise the impact of TV adverts on online traffic. More than 400 brands already use Admo.tv software including Accor, Allianz, Ford, HSBC and Peugeot.
By using Admo.tv’s insights, brands can increase visits, conversions and target customers geographically. Moreover, Admo.tv enables brands to take a top position in Google ads at the exact moment their TV audience is likely to be using online search to learn more about products advertised.
Admo.tv can also be used to identify a TV audience on digital media, allowing brands to convert them into customers.
The global TV analytics market is expected to be worth $4.2 billion by 2023.
Admo.tv was launched in 2015 by Baptiste Brunin and Pierre Figeat in Paris and operates in more than 15 countries worldwide.
Pierre Figeat, president and co-founder of Admo.tv, said: “We see the UK as one of our key markets, particularly given its commitment towards innovation and its strong adtech heritage. We look forward to building our team in the city and growing our roster of UK-based customers.”
Baptiste Brunin, CEO and co-founder of Admo.tv, added: “This round is part of our mission to become the go-to TV measurement and amplification platform for agencies and brands across Europe.”
Dmitry Chikhachev, partner at Runa Capital, said that TV analytics was a multi-billion, established, professional market which has seen little innovation over the last decade.