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- Transmit.Live is valued at $350 million and claims to be profitable.
- Clients include NHL, Paramount and YES Network.
Advertising technology company Transmit.Live says the investment from merchant bank LionTree will help it capitalize on growing demand for its services from sports streaming services.
Terms of the deal are private, except that it is a “mostly growth investment” that values the “profitable” company at $350 million.
Existing investor SC Holdings also participated in the funding. The funding will be used primarily to develop Transmit.Live’s technology and expand its geographic reach as streaming expands globally.
Founded in 2017, the company developed technology to intelligently insert ads into live sports programming. This is not just for commercials, but also for picture-in-picture ads during breaks in play.
These ads can be tailored to specific in-game moments or personalized to individual viewers. This means more relevant advertising and entirely new markets, both of which drive more effective campaigns for brands and generate additional revenue for broadcasters.
Clients include brands such as AT&T, Ford and Nike, rights owners such as the National Hockey League (NHL), and broadcasters such as Paramount, Univision and the YES Network. Regional Sports Network (RSN) has incorporated Transmit.Live’s technology into his YES Direct to Consumer (DTC) application.
Transmit.Live also works with other forms of entertainment. This could be important when Netflix and others introduce ad-supported free tiers.
Transmit.Live CEO Seth Hitman said: .
“We are excited to reimagine the streaming advertising model and build this strong, proven foundation to expand our presence with experienced investors.”
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