TV measurement and analytics company 605 said it made a strategic investment in AdScribe, a U.K. ad technology, measurement and services business.
605 and AdScribe worked together to develop the 605 Platform, a self-service, web based application that reports TV viewership of programming and advertising.
Financial terms were not disclosed.
With the investment, the two companies plan to work together to accelerate the adoption of the 605 Platform. The 605 Platform was launched in the U.S. in February, with AMC Networks and Discovery as its first network clients.
“Platform has been a remarkable success for 605, and our strategic investment in the AdScribe business will allow us to develop new measurement solutions for our current clients and extend our reach into Europe,” said Kristin Dolan, CEO and founder of 605.
“We are seeing tremendous momentum in our business – even amid this uncertain time – as television and video content consumption grows quickly and in new ways. Sophisticated measurement and analytics matter now more than ever, and our clients recognize the need to reimagine how they use data to target audiences, drive eyeballs and monetize with advertisers,” Dolan said. “We are exceptionally confident in our ability to succeed in measurement, and we have the expertise, technology and resources to move even more quickly in partnership with the AdScribe team.”
The AdScribe team has worked on advanced advertising and measurement in the U.S. and Europe for more than a decade.
“We are incredibly pleased to close this investment from our partners at 605,” said Donal O’Connor, CEO and founder of AdScribe. “We know the 605 team very well having already worked together to help extend 605’s level of engagement with customers. Our view has always been that the US leads the way in strategy and execution around advanced TV measurement and collaborating with 605 on Platform has massively enhanced the functionality of our combined measurement portfolio. In addition to continuing to support 605 with their customers in the US, we are excited to now bring these capabilities to customers in Europe.”
