TVSquared, which was founded in 2012, was one of our principals’ first equity investments, with Chris and Paddy backing the company initially in 2014. Chris has also been chairman of the board since 2016.
Over the last decade, TVSquared has grown from a germ of an idea to become a global leader in the world of media measurement and attribution.The deal valued TVSquared at approximately $160 million (c.£118m) and consists of $100 million in cash as well as an additional stock consideration. The combined business positions Innovid as a single source for ad-serving and measurement for converged TV and will see the TVS brand continue under its new owner as TVSquared by Innovid.
Chris van der Kuyl, principal of Chroma Ventures, said:
“The best part of my job as chairman has been supporting the development of the fantastic team and this is a monumental and well-earned moment for all of them.
“This chapter of the story begins and ends with Calum Smeaton, who is a world-class technology entrepreneur and someone who is willing to bear risk in stepping up and seizing opportunities. I have known Calum for most of my professional career and will always be thankful that he chose to take on this idea and lead this company.
“It has been an honour to both invest in the company and serve as its chairman during this first phase of the company’s growth. Having transferred a material part of our investment into shares in Innovid, we are looking forward now to being part of the next phase of growth.”