ColorTV raises $1.5 million to bring advertising to the connected TV

As platforms like Apple TV, Android TV and others pick up traction, it’s worth wondering about the evolution of the biggest advertising industry in the world: TV advertising.

$176 billion is spent globally to an audience that is rapidly switching over to connected TV, where they can play games, watch streaming content, etc.

When it comes to marketing to this audience, ColorTV has a proposition in mind.

The company has just raised $1.5 million in seed funding led by Foxconn, the manufacturing behemoth based in China that puts together the world’s iPhones, among other things. With the funding, ColorTV will continue building out their product, which lets developers download tools and integrate with the platform in a few minutes.

These developers are more often than not game makers for Apple TV who are looking to monetize their apps.

From there, marketers like Hulu or TechCrunch parent company AOL can use ColorTV’s targeting tools to serve the right ad at the right moment.

Unlike traditional TV advertising, where audience demographic on a certain show is as much a guess as it is based on fact, ColorTV’s platform has insights that are unique to each individual audience member. This means targeting marketers’ ads will be far more precise.

“My neighbor is a 75-year-old Japanese man,” said founder and CEO Giancarlo Maniaci. “We have almost nothing in common. So if he and I are both watching American Idol, we shouldn’t be seeing the same commercials.”

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Alongside advanced targeting, ColorTV also offers real-time analytics to marketers so they can weigh their decisions without wasting any time, and make changes accordingly.

ColorTV pays out developers on a CPM basis, as well as a cost-per-install basis if the viewer downloads the marketer’s app.

After around 65 days on the market, ColorTV currently has approximately 100 clients on both the developer and marketer side, and is focusing in on building out inventory on the developer side.

You can learn more about ColorTV here.