TVSquared, the gold standard for TV performance analytics and optimisation, has raised another $8 million in funding to support and accelerate its market expansion. To date, equity funding totals more than $21 million.

The latest round was led by private equity partnership West Coast Capital and supported by existing investors, including the Scottish Investment Bank.

TVSquared makes TV a performance-driven marketing channel for more than 700 brands and agencies across the globe.

Its ADvantage platform quickly measures the impact of TV advertising, providing insights to optimise campaigns for response and maximise the efficiency of marketing spend.

 “With TVSquared we measure and optimise our TV investments in the same way we do our digital buys,” said Jennifer Metcalf, director of global media, GoDaddy.

“We know exactly what aspects of the buys are performing and have the insights to make quick changes to maximise response.

“We use ADvantage to understand and then optimise our TV across over 10 markets.”

In part, the latest round of funding will go toward TVSquared’s continuous research and development.

Recent product advances include audience-level insights to understand exactly who is responding to TV and optimise spend for those target audiences.

TVSquared has also launched SearchSync for syncing TV spots with paid search. Brands can secure the top search positions in the minutes after TV spots air, taking advantage of high-interest moments and maximising TV-driven response.

“TVSquared gives advertisers a deep understanding of TV’s business impact," said Calum Smeaton, CEO and founder, TVSquared .

“We help our rapidly expanding client base hold TV accountable by uncovering exactly how ads drive real-world response.

“Not only that, we give them the insights to consistently optimise that performance.”

With offices in Edinburgh, London, New York and Los Angeles, TVSquared recently expanded to Munich with its purchase of wywy.

The acquisition brought real-time spot detection technology to ADvantage, making the time-to-TV insights even faster.

Paul Davidson, partner, West Coast Capital said: “In the two years we have invested in TVSquared, it has established itself as the premier provider of TV advertising analytics for brands, agencies and networks.

“Its technology, vision and team are world class, and we look forward to seeing it continue to innovate the way TV can be used as a marketing channel.

“TVSquared has been a great addition to our strong portfolio of technology businesses.”