605 makes strategic investment in AdScribeTuesday, April 21st, 2020
Expand Partnership which Developed Leading TV Measurement and Analytics Technology – 605 PLATF0RM – and Extend Reach in the U.S. and Europe
NEW YORK — 605, a leading television measurement and analytics company, announced today that it has made a strategic investment in AdScribe, a London and Dublin-based advertising technology, measurement and services business. Financial terms of the deal were not disclosed.
605 and AdScribe partnered to develop 605 PLATF0RM, a self-service, web-based application that reports TV viewership of programming and advertising by advanced, custom-defined audiences. With this investment, the two companies will work closely together to accelerate the adoption of PLATF0RM on a global basis and to create new products and services that can advance TV measurement, data and analytics for programmers, distributors, agencies and brands.
“PLATF0RM has been a remarkable success for 605, and our strategic investment in the AdScribe business will allow us to develop new measurement solutions for our current clients and extend our reach into Europe,” said Kristin Dolan, CEO and founder of 605. “We are seeing tremendous momentum in our business – even amid this uncertain time – as television and video content consumption grows quickly and in new ways. Sophisticated measurement and analytics matter now more than ever, and our clients recognize the need to reimagine how they use data to target audiences, drive eyeballs and monetize with advertisers. We are exceptionally confident in our ability to succeed in measurement, and we have the expertise, technology and resources to move even more quickly in partnership with the AdScribe team.”
AdScribe is staffed by a core team who had previously worked across advanced advertising and measurement in the US and Europe for over a decade. AdScribe’s strategy is to provide tools to participants in the TV value chain to more effectively measure and monetize content and advertising. AdScribe’s TV measurement product, which is already deployed at a number of customers in Europe, augments PLATF0RM but the partnership also leverages the combined expertise of both partners against a long-term roadmap.
“We are incredibly pleased to close this investment from our partners at 605,” commented Donal O’Connor, CEO and founder of AdScribe. “We know the 605 team very well having already worked together to help extend 605’s level of engagement with customers. Our view has always been that the US leads the way in strategy and execution around advanced TV measurement and collaborating with 605 on PLATF0RM has massively enhanced the functionality of our combined measurement portfolio. In addition to continuing to support 605 with their customers in the US, we are excited to now bring these capabilities to customers in Europe.”