Frankfurt: Spearad, the emerging Addressable TV vendor, announced today that it has secured over US $1M in Seed financing.
The funding round was realized with Fund Hessen-Kapital III, Fraser & Company, Richard Reimer of law firm Hogan Lovells, and industry veteran Ralf Jacob, who joined the company´s advisory board. Richard Reimer and Philipp Kobus of Fraser will serve as non-executive advisors to the management team. Existing investor Leverage Invest & Consult GmbH, represented by Michael Schultheiss, also participated in the round, following its earlier investment in 2019.
Erhard Neumann, Spearad CEO, underlined the commitment by state-owned fund Hessen-Kapital III: “We are very pleased to see that the German State of Hesse backs Spearad and our team of advertising technology pioneers to drive innovation in Addressable TV advertising on a global scale, and serve as a role model for future startups here at home in the State of Hesse.”
New investor Ralf Jacob, formerly President of Verizon Digital Media Services, adds: “When a young company starts winning big-ticket RFPs against tech industry giants… investors take notice. Spearad’s innovative approach to ad pod management coupled with machine intelligent decision making, brand safety layers, inventory monetization by external and Spearad´s integrated demand-side platform presents a new streamlined solution to broadcasters and OTT providers”. Spearad´s Demand Side Platform, Spearad presents programmatic campaigns to Broadcasters for approval enabling them to decide which ads should be delivered programmatically whilst retaining 100% control.
The investment will be used for additional development of “Selective Programmatic” and building out the team to serve the company´s rapidly growing international client base.