French adtech firm Admo.tv plans to expand its presence in the UK after raising €6 million in a Series B funding round.
A spokesperson for the TV and radio analytics platform told BusinessCloud that it will hire around 70 people at its fledgling London base.
“We’re aiming to grow our Paris office to a headcount of 70 by the end of 2019,” they said. “We have the same ambition for the UK market.”
Admo.tv will also open new offices in Spain and Germany and continue to develop its platform, which is used by the likes of ASOS, match.com and Accorhotels Group in the UK to measure and optimise the impact of TV adverts on online traffic.
It currently has part of its senior team based in the UK including president and co-founder Pierre Figeat and Vinnie Khurana, head of sales UK.
“We’re on the lookout for hiring top talent in the UK across sales and marketing roles,” the spokesperson added. “France generates most of our revenue – and we are confident that the UK will follow suit.”
Figeat said: “We see the UK as one of our key markets, particularly given its commitment towards innovation and its strong adtech heritage.
“We look forward to building our team in the city and growing our roster of UK-based customers.”
→ READ MORE: LISTED VIDEO ADVERTISING RIVALS PLAN £260M MERGER
Admo.tv’s platform is based on TV detection technology called ‘fingerprinting’ which looks at a viewer’s image and sound ‘signature’ and compares it to a database of all the images and audio samples of the advertiser’s TV spots.
The tech allows brands to analyse the impact of their advertisements, including the size of the advertising cut, the television context, the position of the spot in the cut and even the spots of competitors.
The company intends to extend its use to include the impact of TV advertising not only on digital environments but also on brand reputation and traffic in physical stores. Its new media prediction tool will offer advertisers the opportunity to buy TV advertising based on audience behaviour and engagement.
The funding round was led by Runa Capital, Entrepreneur Venture and Cap Décisif and followed a €1.5m round completed in 2016 with Entrepreneur Venture and Kerala Ventures, bringing total investment to €7.5m to date.
Baptiste Brunin, CEO and co-founder of Admo.tv, said: “This round is part of our mission to become the go-to TV measurement and amplification platform for agencies and brands across Europe.
“With the global TV analytics market expected to reach $4.2 billion by 2023, we are excited to demonstrate the relevance of these channels for today’s consumers – allowing brands to capitalise on the significant opportunities presented by a well-planned and holistic TV advertising campaign.
“Perhaps most importantly, we are committed to raising the value of traditionally offline channels for advertisers, agencies and viewers alike.”
READ REPORT ON BREXIT AND THE TECH SECTOR IN OUR INTERACTIVE MAGAZINE – CLICK BELOW