Digital ad spending in the U.S. is projected to reach $460 billion by 2028, surpassing traditional TV ad spending of $45 billion, as consumers increasingly engage with online platforms. tvScientific aims to enhance CTV advertising capabilities to take advantage of this trend, targeting marketers from search and social backgrounds. With a self-serve and managed service platform, the company collaborates with major partners like NBCUniversal and Hulu to optimize CTV ads. Recent funding will focus on data science and engineering, positioning the company for future growth without reliance on traditional advertising channels.
The move 'will dramatically change the economics of TV for publishers in a very positive way and, more importantly, it's going to help deliver growth to marketers on a brand new performance channel.'
The startup offers a platform for advertisers to target and measure CTV ads through partnerships with NBCUniversal, Hulu, Tubi and others.
Digital ad spend overtaking TV has resulted not just as consumers spend more time online but as these newer platforms are easier for advertisers to execute, measure and optimize their campaigns.
Fairchild says the funding will go to investments in data science and engineering and expects this round to be its last before profit.
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