New York-based impact investing and ad targeting company Simulmedia has secured $29 million in Series E funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced June 12 and led by Union Square Ventures.
According to its Crunchbase profile, "Simulmedia is making TV advertising better by bringing web-like advertising techniques to television, today. Simulmedia has built the world’s first fully scaled digital ad-targeting platform for linear television. The company's unwired audience network reaches all 115 million U.S. TV homes in partnership with nine of the 10 largest system operators and more than 70 cable television networks."
The 10-year-old company has raised six previous funding rounds, including a $25 million Series D round in 2013.
The round brings total funding raised by New York companies in advertising over the past month to $197 million, an increase of $193 million from the month before. The local advertising industry has seen 49 funding rounds over the past year, securing a total of $701 million in venture funding.
In other local funding news, insurance company Sure announced a $23 million Series B funding round on June 13, financed by W. R. Berkley Corporation.
According to Crunchbase, "Sure is a mobile app that allows you to purchase insurance when you want it and where you want it. Sure is the future of personal insurance with Episodic Insurance. Getting insured is one of the most financially responsible actions you can take."
Founded in 2014, the company has raised three previous rounds, including an $8 million Series A round in 2017.
Meanwhile, medical company CredSimple raised $14 million in Series B funding, announced on June 12. The round's investors were led by Questa Capital Management.
From the company's Crunchbase profile, "CredSimple is an NCQA-certified credentialing and provider data-management solution. They combine software and services to deliver a truly transformative level of service to their clients. Their clients enjoy a 10x improvement in credentialing turnaround times and 15x improvement in credentialing efficiency, as compared to industry standards."
CredSimple last raised $7.7 million in funding in 2018.
Also of note, network security and fraud detection company ThetaRay raised Series C funding, announced on June 12 and financed by ABN AMRO Digital Impact Fund.
From Crunchbase, "ThetaRay is a provider of unknown threat detection solutions to critical infrastructure, financial institutions and other verticals. Its advanced analytical solutions operate with unprecedented speed, accuracy and scale, enabling clients to manage risk, detect money-laundering schemes, uncover fraud, expose bad loans, uncover operational issues and reveal valuable new growth opportunities. Founded in 2013, the company is headquartered in Hod Hasharon, HaMerkaz, Israel."
The company previously raised $30 million in Series B funding in 2018.
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