Cognitive Networks, an ad tech firm with
technology that automatically recognizes the content running on smart TVs, on Tuesday announced it has closed a $14.5 million Series B round of financing.
Hearst Ventures and two undisclosed
strategic partners participated in the round -- all three of which are new investors, per a release. Existing investors Rogers Venture Partners and DCM Ventures also participated in the round.
Michael Collette, CEO of Cognitive Networks, said in a statement that content recognition “produces vast, detailed, real-time data that can be used to measure, target and optimize TV
advertising and content in powerful new ways.”
Television is becoming more automated, with some estimates projecting programmatic to account for 20% of TV ad spend by 2018.
There is currently no real-time bidding (RTB) of TV ad inventory, but if the market ever moves in that direct, technology such as Cognitive Networks’ could become an integral component.