It may not have imagined numbers this big when it started out in Stamford, CT, six years ago, but Tru Optik – the tech vendor which helps ad buyers target and measure ads through connected TV platforms, now has technology tentacles in 80 million US homes.
That scale has just brought another investment round, totalling $10 million, from a group led by Mithera Capital and including TransUnion, Connecticut Innovations, Arab Angel Fund and Progress Ventures.
Tru Optik’s tech allows ad buyers to use third-party or first-party audience segments to target viewers in a “graph” of 80 million households using various over-the-top and connected TV equipment.
Why does it want more money? Tru Optik’s announcement says funds will go toward increasing its sales effort, international growth, extending that footprint and even branching in to audio ads.
Why did Mithera Capital stump up the round? Because Tru Optik is executing well on the way the wind is blowing, says Mark Feldman, Mithera Capital MD, in this video interview with Beet.TV.
“The shift of ad dollars to over the top streaming is happening and going to continue to happen – there’s just a great market opportunity there,” he says. “It was the right company at the right time.”