Valiant Capital has become a new investor in television advertising company Simulmedia by leading a $25m Series D financing round for the company.
Fellow new backer R&R Ventures also took part in the round alongside existing backers Avalon Ventures, Union Square Ventures, Time Warner Investments and Allen & Company.
The round brings the total raised by Simulmedia to $59m since it was launched in 2009.
Avalon partner Rich Levandov said, “Simulmedia became profitable this quarter for the first time, as audience-based buying on TV went from ‘interesting concept’ to large scale testing, and buyers are now building it in as part of their core TV media strategies.
“Clearly, [founder and CEO Dave Morgan] and his team have laid a solid foundation for a very profitable future and we are excited to be part of it.”
Morgan said the new funding would be used to build out the company’s technology, sales and service.
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