Ad-tech startup SilverPush has secured an amount of $1.2 million (Rs.8.2 crore) from Hiro Mashita led Japanese early-stage investment firm, M&S Partners, with participation from its existing investors namely IDG Ventures India and 500 Startups.
Raised funding will be used in the development of a new platform by the company called PRISM which will help brands to measure the television ratings of their ad commercials.
In April 2014, the Gurgaon and San-Francisco based startup raised Rs.9 crore funding from IDG Ventures India and Ronnie Screwvala’s Unilazer Ventures. It was also a part of incubation batches of GSF Accelerator and 500 Startups. Till date, it has raised around Rs 16.4 crore in equity financing.
Commenting about their new project PRISM Hitesh Chawla, co-founder and chief executive of SilverPush said, “Advertisers will get insights from metrics like video completes, effect of ad day part on website traffic and even lift in brand awareness while campaigns are still in flight, allowing them to improve their TV campaigns. This will be a complete shift from the lag in traditional TV reporting where insights come after a delay, say in days, weeks or even months after TV campaigns have gone live.”
SilverPush was founded by Hitesh Chawla, Alex Modon and Mudit Seth in 2012. It is a cross device mapping analytics platform that gives crucial insights about the users feedback of brands and companies ad commercials on TV.
The company has partnered with 6-7 apps to incorporate this technology in their app to catch signals from TV and it also claims to have data of 18 million smartphones. The company has created mobile ads for over 50 brands in six countries including Google, Dominos, Samsung, Candy Crush, Airtel, P&G, Kabam and Myntra.