Alphonso Raises Institutional Capital to Scale Cloud Services for TV Retargeting, Self-Serve TV Ad Analytics and Offline Attribution
June 5, 2017
MOUNTAIN VIEW, Calif. (June 5, 2017) – TV data company Alphonso today announced it has secured $5.6 million in equity financing led by Manifest Investment Partners. Veteran media executive Jeff Sagansky is among a group of individuals who participated in the round. The company, which has been customer-funded and profitable since 2014, will use the investment to expand distribution both in the US and abroad, increase hiring in its Silicon Valley, New York and Bangalore offices, and support a rollout of its services in Europe.
Alphonso applies one of the largest TV datasets in the industry to two key problem areas for brands, networks and advertising agencies: how to maximize the effectiveness of TV advertising in the digital era where digital devices distract viewers from ads, and how to effectively measure TV watching and the corresponding offline impact of TV ad campaigns.
Alphonso’s core offerings are a TV-to-digital retargeting service that enables advertisers to extend TV ad campaigns to targeted TV audiences across mobile devices, and Alphonso Insights, a self-serve, SaaS-based real-time TV ad analytics service that provides granular campaign metrics and offline attribution, using census-level deterministic data to optimize ad spend across TV and digital platforms.
Paul Falzone, managing partner for Manifest, said, “In the media space, we focus on high-growth companies that generate value by deploying innovative technology, big data and applied AI to introduce efficiencies into the TV ecosystem. Alphonso is an ideal fit for us. The company leverages proprietary sensor technologies, strategic data sets and cloud services to help global brands engage with their massive TV audiences, across digital devices, in ways that haven’t been possible in the past. We are amazed by how much the Alphonso team has achieved organically by focusing on its customers and product, and are excited to collaborate with the team to accelerate growth in the business.”
“More money is spent on TV ads than any other medium, yet it has been too difficult for brands to retain TV audience attention in the digital age, and to understand the true impact of their campaigns, until now,” said Ashish Chordia, Alphonso cofounder and chief executive officer. Partnering with a firm like Manifest which shares our DNA and vision is already bearing tangible results. Manifest is differentiated by their LPs, a group of individuals who have had successful careers as business operators and entrepreneurs in media and technology, and serve as an ongoing strategic resource. This firepower made our decision to partner with Manifest an easy one.”
“Alphonso has brought to market a set of TV data and services that can help standardize the way advertisers reach consumers and measure success in the digital age. It indeed is the holy grail for TV and the digital media ecosystem,” said Jeff Sagansky. Sagansky is currently president and chief executive officer of Double Eagle Acquisition Corporation and has served in senior executive leadership positions at NBC, CBS and Sony, among other media powerhouses.
The Alphonso TV Data Cloud
Alphonso’s TV retargeting, measurement and attribution services are powered by the Alphonso TV Data Cloud. The company uses proprietary machine-learning techniques to maintain an always-on index of all programming and advertising appearing across over 200 linear cable and broadcast networks and major OTT services. In addition, it has automated content recognition (ACR) and other technologies embedded in over 40 million smart TVs, set-top boxes and smartphones that report one-to-one TV viewership data in real time.
When combined, the data can be used to drive powerful campaigns that deliver a brand’s TV advertising to their target audiences across premium mobile apps and websites. Brands use this form of TV retargeting to extend ad frequency, conquest a competitor’s campaign, or to reach premium TV audiences that are otherwise unavailable. For example, advertisers can digitally target TV audiences for major TV events that have a limited number of avails, or reach the audience of a show that runs on a non-ad-supported cable network or OTT service.
In addition to this TV retargeting service, which is used by hundreds of the top US brands, agencies and networks, the company recently launched its measurement and attribution software-as-a-service offering, Alphonso Insights. Alphonso Insights enables brands and agencies to conduct real-time analysis of TV content and ad consumption at a granular level and obtain closed loop attribution on TV media spend. It simplifies and expedites reporting on metrics such as total airings, share of voice, estimated spend, audience reach, locations visited and purchases made.
Alphonso is a TV data company and the market leader in providing brands and agencies with verified TV audiences on mobile devices and the web. Its Alphonso TV Data Cloud services power TV retargeting and brand insights for hundreds of the Fortune 500 brands and agencies in the U.S. The company enables its clients to amplify their TV spend with digital, and to reach targeted TV demographics across all screens.
With automatic content recognition (ACR) technology embedded in tens of millions of smart TVs, TV chipsets, mobile apps, gaming consoles, streaming devices and OTT services, Alphonso understands what programming and advertising people are watching on TV. Through its Alphonso Insights SaaS offering, Alphonso delivers actionable insights and closed-loop attribution with offline data in real time, to helps its customers understand the true impact of TV advertising. To learn more, visit www.alphonso.tv.
About Manifest Investment Partners
Manifest was founded in 2016 to make minority investments in technology-enabled services and software companies out of a $50 million fund. In addition to having a strong investment and fund management track record, our team has operating leadership experience at multiple high-growth media and technology companies, as well as data science expertise. We leverage this experience and domain expertise to provide capital and strategic support to rapidly-growing companies in Analytics & Measurement, Applied AI & Machine Learning, Video and VR Software, with a focus on Marketing & Ad Tech and Enterprise Performance & Productivity. Our current investments include Alphonso and VidMob, the world’s first mobile marketplace for video editors. Manifest is based in Marin County, CA, and has offices in Los Angeles, New York and Boston.