SpotX Makes Strategic Investment in SpringServe, Leading Ind
NEW YORK, July 20, 2020 /PRNewswire/ -- SpotX, the leading global video advertising platform, today announced a strategic investment in SpringServe, the leading ad serving platform for over-the-top (OTT) and connected TV (CTV). Under the terms of the agreement, both companies will work together to provide joint customers with the most advanced video advertising capabilities, while seamlessly connecting platform customers to the advertiser ecosystem.
SpringServe offers ad serving, optimization, and automation solutions across devices. Leveraged by publishers and content owners, SpringServe's platform manages multiple aspects of video advertising and includes tools such as inventory routing, customized ad experiences, and advanced podding logic. SpotX has built strong relationships with most major media owners across the OTT ecosystem through their market-leading programmatic technology, and now reaches four out of five ad-supported CTV viewers in the US. The companies will collaborate on a roadmap of unique product features that bring substantial value to the market. Together, SpotX and SpringServe will offer joint customers state-of-the-art ad serving, inventory management, and programmatic capabilities, helping media owners take more control over their video advertising businesses.
"SpotX remains focused on creating the most advanced video advertising platform with a diverse set of tools that brings market leading technology to media owners as well as services that provide tangible benefits to advertisers," said Sean Buckley, COO at SpotX. "SpringServe's steadfast approach to enabling seamless, effective ad serving for OTT publishers is something we have followed closely, and our investment in their company is a logical next step to build on our existing partnership while also enhancing our capabilities for partners."
Based in New York, SpringServe was founded in 2015 by Joseph Hirsch, Hagan Major, Dave Buonasera, Matt Dearborn, and Richard Lin to provide a suite of ad serving tools that make digital advertising more efficient. The investment by SpotX will be used to bolster product and engineering efforts and for research and development, with a focus on building the next generation of CTV ad serving tools.
"We're thrilled about the investment from SpotX and view it as reinforcement that SpringServe's CTV ad serving solution is helping publishers, broadcasters, and content creators holistically manage their advertising inventory," said Joseph Hirsch, CEO at SpringServe. "This investment and future collaboration will further strengthen our best-in-class ad serving solution and will help us continue our mission to improve CTV advertising for our partners and end-users."
This investment serves as an indication of SpotX's continued growth, as it fully acquired the UK-based server-side ad insertion (SSAI) solutions provider Yospace in 2019.
SpotX is the leading video advertising platform shaping digital video and the future of TV globally. The company's solutions enable media owners to monetize content across all screens and streams while providing advertisers with direct access to brand-safe, premium inventory. With best-in-class technology purpose-built for video, SpotX's trusted, GDPR/CCPA-compliant solutions are employed by some of the largest media owners in the world including A+E Networks, Crackle Plus, The CW Network, Dentsu CCI, Discovery, Electronic Arts, Fox Corporation, fuboTV, Gannett, Microsoft, Newsy, Pluto TV, Roku, Sling TV, and Vudu. In the US, SpotX works with nearly all major OTT stakeholders and reaches 4 out of 5 viewers of ad-supported CTV, or 50 million households. In early 2019, SpotX acquired Yospace which powers server-side ad insertion (SSAI) for all live and video on demand content streamed to connected devices. SpotX is a subsidiary of Bertelsmann's RTL Group and is headquartered in Denver with 12 offices throughout the US, EMEA, and APAC regions. Learn more at www.spotx.tv.
SpringServe is the leading independent ad serving platform for OTT, CTV, and video advertising. Its software offers a full stack of ad serving, optimization, and automation solutions that make video ad serving smarter across devices. Trusted by leading publishers & advanced TV distributors, its platform delivers control, transparency, and analytics to increase ad performance and revenue from media sales. Headquartered in New York City, SpringServe is an open solution that was purpose-built for OTT & CTV advertising solutions. For more information, visit www.springserve.com.
Tammy Blythe Goodman
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