SilverPush will deploy this funding for the launch of its new product – PRISM, which is a platform for brands to measure their television ratings. It just launched its beta version in both India and Philippines, and is working closely with a few early customers.
Hitesh Chawla, co-founder and chief executive of SilverPush, told Inc42 that Prism is a data driven platform for TV advertising. “This is an industry where least amount of data exists on performance, in spite of the biggest media component. In continuation of our existing cross-device advertising platform, we now help marketers with data on the impact analysis of their TV campaigns, along with data on their competitor spending and mindshare on TV. Furthermore, we extend their TV audience on digital platforms with our cross-device advertising,” he added.
He also stated that the funding will also be used for international expansion and further product development.
This latest round was also participated by the startup’s existing investors, IDG Ventures India and Dave McClure-led incubator and investor 500 Startups.
“TV channels will especially be bullish with cross media integration to justify the marketing investment on TV these days, we are excited to invest in SilverPush and the way they are pivoting the TV advertising industry,” said Hiro Mashita, founder and director of M&S Partners.
Last year, SilverPush raised $1.5 Mn in a funding round led by IDG Ventures and Unilazer Ventures. The round was also participated by Prashant Mehta, former chief executive of Komli Media; Fabrice Grinda, founder and former CEO of OLX and Krishnan Ganesh, founder of Tutor Vista. Its existing investors GSF Accelerator and 500 Startups also invested in that round.
Last week, it partnered with Philippines-based mobile marketing agency Mobext to come up with a new technological innovation in the marketing and advertising domain. The new technology aims to create tailor-made mobile ads based on consumers’ commercial-viewing preferences on television. This cross-device retargeting technology will be an amalgamation of offline and online marketing with TV analytics and mobile advertising.
As we had earlier reported, the company is expanding geographically via global partnerships – with the US and Australia being the next countries in focus. For India, it is building its own sales force. It also just launched TV analytics, and is also working on data-based TV-buying platform.