Ad-Tech Startup SilverPush gets a $1.2 Million Injection

26-sept

The right way forward is the road that lies ahead. In terms of the development of new stories and the creation of new brands, investment in a Startup is the answer. 2016 will witness a lot more startups entering the industry with an urge to satiate their startup aspirations.

The latest developments in the Startup segment suggest that the AdTech segment will be witnessing a lot of investments in the coming years. In sort of a major coup, Gurgaon and San-Francisco based startup SilverPush has secured a $1.2 Million funding. The funds will be used for a new innovation on part of SilverPush. The firm is working on the development of a brand new platform called PRISM. The platform will help brands measure the television ratings of their ad commercials. The funding of $1.2 million (approximately Rs. 8.2 crore) was derived from Hiro Mashita led investment firm, M&S Partners. The funding round also witnessed the presence of SilverPush’s existing investors, IDG Ventures India and 500 Startups. Since its inception in April 2012, the Gurgaon and San-Francisco based SilverPush has raised Rs.9 crore funding from IDG Ventures India and Ronnie Screwvala’s Unilazer Ventures. The company was also a pivotal part of the incubation batches of GSF Accelerator and 500 Startups. With funds raised around Rs 16.4 crore in equity financing, the company is looking to expand at a quick pace. SilverPush has already entered into strategic partnerships with 7+ apps to implement the innovative and new technology in their app to catch signals from TV and it also claims to have data of 18 million smartphones. The company has created mobile ads for over 50 brands in six countries, including Google, Dominos, Samsung, Candy Crush, Airtel, P&G, Kabam and Myntra.

Silverpush was founded in the year 2012 by Hitesh Chawla, Alex Modon and Mudit Seth and provides new age cross-platform analytic for brands and companies which give them crucial insights about the feedback of users to their ad commercials on TV. With PRISM, the companies would be able to get quick insights about their ads being run on TV. “Advertisers will get insights from metrics like video completes, effect of ad day part on website traffic and even lift in brand awareness while campaigns are still in flight, allowing them to improve their TV campaigns. This will be a complete shift from the lag in traditional TV reporting where insights come after a delay, say in days, weeks or even months after TV campaigns have gone live,” said Hitesh Chawla, co-founder and chief executive of SilverPush.

 

 

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