SpotX Invests In SpringServe OTT, CTV Ad Serving Platform
SpotX, a global video advertising platform, announced a strategic investment in SpringServe, an ad serving platform for over-the-top (OTT) and connected TV (CTV). Under the terms of the agreement, both companies will work together to provide joint customers with the most advanced video advertising capabilities, while seamlessly connecting platform customers to the advertiser ecosystem.
SpringServe offers ad serving, optimization, and automation solutions across devices. Leveraged by publishers and content owners, SpringServe’s platform manages multiple aspects of video advertising and includes tools such as inventory routing, customized ad experiences, and advanced podding logic.
SpotX says it has relationships with most major media owners across the OTT ecosystem through its programmatic technology, and now reaches four out of five ad-supported CTV viewers in the U.S. The companies will collaborate on a roadmap of unique product features that bring substantial value to the market. Together, SpotX and SpringServe will offer joint customers state-of-the-art ad serving, inventory management and programmatic capabilities, helping media owners take more control over their video advertising businesses.
“SpotX remains focused on creating the most advanced video advertising platform with a diverse set of tools that brings market leading technology to media owners as well as services that provide tangible benefits to advertisers,” said Sean Buckley, COO of SpotX. “SpringServe’s steadfast approach to enabling seamless, effective ad serving for OTT publishers is something we have followed closely, and our investment in their company is a logical next step to build on our existing partnership while also enhancing our capabilities for partners.”
Based in New York, SpringServe was founded in 2015 by Joseph Hirsch, Hagan Major, Dave Buonasera, Matt Dearborn, and Richard Lin to provide a suite of ad serving tools that make digital advertising more efficient. The investment by SpotX will be used to bolster product and engineering efforts and for research and development, with a focus on building the next generation of CTV ad serving tools.
“We’re thrilled about the investment from SpotX and view it as reinforcement that SpringServe’s CTV ad serving solution is helping publishers, broadcasters, and content creators holistically manage their advertising inventory,” said Joseph Hirsch, SpringServe CEO. “This investment and future collaboration will further strengthen our best-in-class ad serving solution and will help us continue our mission to improve CTV advertising for our partners and end-users.”