Nielsen Challenger ISpot Nets $325M Investment From Goldman Sachs – Deadline

ISpot.tv, a leading challenger to Nielsen for supremacy in the increasingly fraught TV and streaming ratings business, has received a $325 million investment from Goldman Sachs.

Since its founding in 2012, iSpot has raised $58 million. In announcing the new influx of money, the company said it is generating more than $100 million in annual recurring revenue. It has ties to 400 networks and brands, gaining attention last February for its work with NBCUniversal on the Beijing Olympics. It earned testimonials from NBC execs including former longtime Nielsen official Kelly Abcarian by delivering results quickly and with minute-by-minute precision.

In March, NBCUniversal named iSpot a preferred trading currency for the 2022 upfront cycle. WarnerMedia and Paramount used iSpot in a currency pilot for the NCAA Men’s Basketball Tournament.

Nielsen remains the dominant force in TV measurement, playing a central role in an advertising business still worth north of $60 billion a year. But its methods are under mounting attack, especially as streaming continues to disrupt the traditional business model of television.

“This team has modernized TV measurement and has achieved a lot of groundbreaking innovations for the industry in our first 10 years in business,” said Sean Muller, CEO of iSpot. “As we enter our second decade, the investment and support from Goldman Sachs will help fuel the next generation of innovations and accelerate our ability to be the trusted cross-screen currency of choice.”

The investment gives Goldman a significant minority stake in iSpot, joining Insight Partners and Madrona Venture Group as primary investors.

“We have been very impressed with iSpot’s world-class data analytics software platform and proprietary systems which have been purpose-built for the increasingly dynamic video measurement space,” said Leonard Seevers, partner and head of media investment for the private equity business in Goldman’s asset management division. “We are incredibly excited to partner with Sean and the iSpot team to drive long-term growth and value creation together.”

Goldman Sachs Asset Management has placedprevious bets on data analytics, software and marketing technology and companies like TransUnion, Innovid, GumGum and HUMAN.

With 350 employees, iSpot is headquartered in Bellevue, WA, with regional offices in New York, LA and Tel Aviv. In recent years, iSpot has acquired three other real-time ad measurement companies: Ace Metrix, DRMetrix and Tunity.

Jefferies Group and Luma Partners acted as financial advisors to iSpot, and Fox Rothschild LLP provided legal counsel. Weil, Gotshal & Manges LLP provided legal counsel to Goldman Sachs.