, a leading challenger to for supremacy in the increasingly hectic TV and streaming ratings industry, has received a $325 million investment from.
iSpot has raised $58 million in a year after the company announced the increase. It has connected to 400 networks and brands, earning about $100 million in annual recurring revenue in February. It gained widespread recognition from NBC executives, including former Nielsen official Kelly Abcarian, by delivering results quickly and with minute-by-minute precision.
In March, NBCUniversal named iSpot a popular trading currency for the 2022 upfront cycle. WarnerMedia and Paramount used iSpot in a currency pilot for the NCAA Men's Basketball Tournament.
Nielsen remains the dominant force in television, jouing a key role in an advertising company that is still worth around $60 billion a year. However, its methods are under increasing pressure, especially as streaming continues to alter television's traditional business model.
This team has modernized TV measurement and achieved a lot of remarkable advancements for the industry in our first ten years in business, said Sean Muller, CEO of iSpot. As we enter our second decade, the investment and support from Goldman Sachs will help fuel the next generation of innovations and strengthen our ability to be the trusted cross-screen currency of choice.
Goldman Sachs has a significant minority share in iSpot, including Insight Partners and Madrona Venture Group as primary investors.
We have been really impressed with iSpot's world-class data analytics software and proprietary systems, which have been purpose-built for the increasingly dynamic video measurement space, said Leonard Seevers, the partner and head of media investment for the private equity company in Goldman's asset management division. We are absolutely enlightened to partner with Sean and the iSpot team to ensure long-term growth and value creation together.
Asset Management at Goldman Sachs has placed previously focused on data analytics, software and marketing technologies, and companies like TransUnion, Innovid, GumGum, and HUMAN.
iSpot has a combined 350 employees, including offices in New York, LA, and Tel Aviv. In recent years, iSpot has acquired three other real-time ad measurement companies: Ace Metrix, DRMetrix, and Tunity.
iSpot was founded by Jefferies Group and Luma Partners, and Fox Rothschild LLP provided legal counsel. Goldman Sachs, Weil, Gotshal & Manges LLP provided legal counsel.