Shepherd and Wedderburn acted as sole counsel to advertising analytics developer TVSquared on its latest $8 million fundraising to accelerate expansion.
TVSquared makes TV a performance-driven marketing channel for more than 700 brands and agencies in an industry estimated globally to be worth $200 billion (£141 billion) a year. Its ADvantage platform quickly measures the impact of TV advertising, providing insights to optimise campaigns for response and maximise the efficiency of marketing spend.
The latest Series B investment round was led by existing investor West Coast Capital, the Scottish-based private equity group founded and led by Sir Tom Hunter, alongside a number of individual private investors and the Scottish Investment Bank, the investment arm of Scottish Enterprise.
Commenting on the Series B funding, Calum Smeaton, TVSquared founder and chief executive, said: “TVSquared gives advertisers a deep understanding of TV’s business impact. We help our rapidly-expanding client base hold TV accountable by uncovering exactly how ads drive real-world response. Not only that, we give them the insights to consistently optimize that performance.”
Shepherd and Wedderburn partner Stephen Trombala added: “TVSquared’s financing is a testament to its experienced management team, matched with sophisticated European and U.S. investors deploying new capital to accelerate growth.”
Scottish technology entrepreneur Chris van der Kuyl joined TVSquared as a non-executive director in 2015 and was appointed chairman in 2016.
On the latest funding round, van der Kuyl said: “On behalf of the board, we are delighted at the close of this latest round of funding, which will fuel TVSquared’s global growth. The support of our current shareholders means that the team can focus on delivering fantastic products to an ever-growing audience.”
Paul Davidson, partner with West Coast Capital, added: “In the two years we have invested in TVSquared, it has established itself as the premier provider of TV advertising analytics for brands, agencies and networks.
“Its technology, vision, and team are world class, and we look forward to seeing it continue to innovate the way TV can be used as a marketing channel. TVSquared has been a great addition to our strong portfolio of technology businesses.”