tvScientific Raises $9.4M Convertible Note

tvScientific, a Pasadena, CA-based performance advertising platform for connected TV (CTV), raised $9.4m in convertible note funding.

Backers included S4S Ventures, BDMI, and Progress Ventures, which joined NBCU/Comcast, Norwest Capital Partners, Aperiam Ventures and Hearst Ventures.

The company intends to use the funds to expand operations and its development efforts.

Led by Jason Fairchild, Co-Founder and CEO, tvScientific enables advertisers to buy and execute performance CTV campaigns with major inventory partners, including Paramount+, Hulu, Discovery, ABC, CBS and NBC. Last year, the company introduced the ability to buy CTV campaigns on a Cost-Per-Outcome basis, which enables advertisers to move beyond simple reach & frequency or MMM models and for the first time ever buy media based on real outcomes like CPA, ROAS, sales, and post-CTV campaign traffic. Customers include major brands Experian, MoneyGram, Crocs, Groupon, and Fender.