Connected TV marketing platform company ColorTV has picked up $1.5 million in seed funding, led by Foxconn, the San Francisco start-up announced July 13.
“Television advertising is king, with over 172 billion spent globally each year, yet brands can not predictably market on TV like they can online,” said Giancarlo Maniaci, CEO and cofounder of ColorTV, in a statement. “ColorTV is helping to change that. With the rise in cord cutting, growth in Connected TV and newly launched Apple and Android TV app stores, ColorTV simplifies marketing on TV like it's done on the internet.”
The company was founded by the founders of mobile ad company TapIt.com, and includes former employees of Google, Samsung, Millennial Media and Tapjoy.
“The Apple TV and Android TV/Chromecast ecosystem will finally enable marketers to track and run TV campaigns in real-time and target more predictively. This is a huge win for TV, and will let marketers better navigate advertising in living rooms across the globe,” Maniaci said. “ColorTV’s soon to be launched platform will help advertisers and developers take advantage of the huge opportunity that exists in reaching engaged consumers via these devices (Apple TV, Android TV, Amazon Fire TV).”