Getty Images / Transmit.Live
- Transmit.Live is valued at US$350m and claims to be profitable
- Clients include NHL, Paramount and YES Network
Advertising technology firm Transmit.Live says investment from merchant bank LionTree will help it capitalise on increased demand for its services from sports streaming services.
The terms of the deal are undisclosed other than it is a ‘majority growth investment’ that values the “profitable” company at US$350 million.
Existing investor SC Holdings also participated in the fundraising, which will be used primarily to develop Transmit.Live’s technology and to expand its geographic reach as streaming expands globally.
The company was founded in 2017 and has developed technology that intelligently inserts advertising into live sports programming. This covers not just commercial breaks, but also picture-in-picture advertising during breaks in play.
These adverts can be tailored to specific moments in the game and personalised for each individual viewer. This means more relevant advertising and entirely new markets, both of which will drive more effective campaigns for brands and generate additional revenue for broadcasters.
Clients include brands like AT&T, Ford and Nike, rights holders including the National Hockey League (NHL) and broadcasters such as Paramount, Univision and the YES Network. The regional sports network (RSN) has incorporated Transmit.Live’s technology into the YES direct-to-consumer (DTC) application.
Transmit.Live also works across other forms of entertainment, something which could be crucial as the likes of Netflix introduce ad-supported free tiers.
“We founded Transmit to maximise the revenue potential of entertainment’s most valued streaming content, particularly live sports, by delivering new in-stream ad formats that optimise engagement during peaks and lulls in live content and beyond,” said Transmit.Live chief executive Seth Hitman.
“We are excited to build on this strong, proven foundation to reimagine the streaming advertising model and to expand our presence with these highly experienced investors by our side.”