The investment bank said on Wednesday that it will invest $325 million in a public advertising and analytics company.
iSpot, which measures the effectiveness of television ads on linear and streaming platforms, was recently named as its preferred trading currency for the Upfront Season in 2022. The company, which was founded in 2012, has generated more than $100 million in annual recurring revenues.
The investment follows Shamrock Capital's investment in an iSpot competitor. Both EDO and iSpot are competing to overtake which was itself just sold to a consortium of private equity firms in a deal as the go-to measurement system used by media companies.
"We believe iSpot's industry-leading advertising capability and its ability to deliver cross-screen audience and performance measurement in real time are uniquely positioned the company to support the TV advertising ecosystem in advancing the industry's measurement standards," said Joon Park, the managing director of Goldman Sachs Asset Management. "We look forward to supporting the iSpot team in their exciting journey."
NBCUniversal's first quarter inventory included 60 currency pilots, including the Olympics, the Super Bowl, and Paramount's stock. WarnerMedia and Paramount used iSpot in a currency pilot for the NCAA Men's Basketball Tournament. Before the Goldman Sachs investment, iSpot had raised $58 million.
This business has modernized TV measurement and has made a lot of breakthrough discoveries for the industry in our first ten years in business, said Sean Muller, CEO of iSpot. The investment and support from Goldman Sachs will help fuel the next generation of innovations and enhance our ability to be the trusted cross-screen currency of choice.
Goldman Sachs has previously invested in data analytics, software, and marketing platforms, including Innovid, GumGum, and HUMAN.
iSpot said it will leverage the investment to spur its growth, especially in the sales division and with its engineering and product development.
