tvScientific, the leading performance advertising platform for Connected TV (CTV), has raised $25.5 million in Series B funding to accelerate its mission to 10x the CTV ad market. The round was led by NewRoad Capital Partners and includes participation from Roku, Second Alpha Partners (a first-time investor), and existing investors Norwest Venture Partners, S4S Ventures, and Progress Ventures.
Today, the CTV advertising market is valued at $30 billion and is expected to grow to $42 billion by 2028 as ad dollars shift from the traditional $60 billion linear TV market. However, the TV advertising landscape currently favors brand advertisers, with metrics like reach and frequency dominating. As a result, performance advertisers—who have driven the success of search and social ads, which together make up a $500 billion market—have found the TV market to be largely inaccessible.
Jason Fairchild, CEO and co-founder of tvScientific, envisions a major transformation in CTV advertising. “tvScientific’s goal is to expand the total addressable market for TV advertising by creating the category of Performance TV—CTV advertising with the same performance metrics and capabilities that performance advertisers use on digital-native channels like search and social,” said Fairchild. “With Performance TV, we aim to transform CTV into a multi-hundred-billion-dollar category, rivaling the combined search and social market, and making it a go-to solution for results-oriented e-commerce and mobile advertisers who would otherwise overlook CTV.”
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John Sheehy, Operating Partner at NewRoad Capital Partners, highlighted the platform’s potential: “As brands seek deeper connections with consumers to drive business outcomes, Jason and the tvScientific team have built the leading performance-driven CTV platform. From audience targeting and activation to measurement and optimization, tvScientific has all the elements in place to transform how brands engage with consumers.”
The fresh capital will enable tvScientific to expand its go-to-market teams and continue to enhance its patented suite of technologies focused on identity, outcome measurement, and machine learning/AI-driven TV optimization. To date, the company has been granted six patents.
Miles Fisher, Senior Director of Strategic Advertising Partnerships at Roku, commented on the partnership: “We often talk about the future of TV advertising being performance-based. Our investment in tvScientific reinforces this belief. This partnership makes sense given Roku’s scale in CTV and our shared vision that TV advertising should be accessible to advertisers of all sizes.”
tvScientific has already helped hundreds of major brands—Foot Locker, Rare Beauty, EA, Scopely, Dream, Brightside, Earnin, Britbox, Gorjana, and Weight Watchers—develop performance-driven strategies on CTV, delivering ROAS (Return on Ad Spend) and CPAs (Cost per Acquisition) that exceed the standards of increasingly expensive and competitive social and search platforms.
With this new funding, tvScientific aims to expand its customer base by 10x within the next two years, further cementing CTV as a performance advertising powerhouse. The company’s ambitious vision is to make Performance TV the standard for CTV, ensuring that advertisers see measurable results on par with what they expect from search and social media advertising.
The future of accountable advertising is now, and with this latest funding round, tvScientific is poised to lead the evolution of Performance TV.