Edward Norton’s Adtech Firm, EDO, Just Raised $80 Million

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Edward Norton’s Adtech Firm, EDO, Just Raised $80 Million
Debbie Cerda for Slackerwood | Flickr

EDO, a TV advertising measurement startup looking to compete with longtime industry heavyweight Nielsen, has raised $80 million from Los Angeles-based investment firm Shamrock Capital.

Co-founded by actor Edward Norton in 2015, EDO claims to be the first company to measure TV ads through consumer search activity—tracking online searches five-to-10 minutes after an ad airs and giving advertisers real-time insights into how consumers respond to their commercials. The company says it cross-references a national TV ad database of 200 million airings with anonymized search data to detect spikes in ad engagement.


Earlier this week, the Culver City-based company signed a deal with Discovery to help the media giant track consumer interest for its advertisers. EDO’s other clients include major TV networks such as NBCUniversal, Fox and CBS, as well as brands like Nissan, IBM, Royal Caribbean and New Balance.

EDO is among a new wave of measurement firms seeking to supplant Nielsen, which has long been the gold standard of TV measurement but has struggled amid the rise of online streaming. In turn, some major TV companies have begun looking to other data providers for ad insights.

In a statement, Norton said EDO is aiming to “transcend the antiquated, obsolete methods that have defined TV measurement for too long and put a serious drag on the value and creativity of the whole media and entertainment complex.”

Shamrock’s investment came at a pre-money valuation of more than $200 million and takes EDO’s total funding to date to over $92 million, representatives for EDO said. The company, which keeps a second headquarters in New York City, plans to use the new funds to grow its team, improve its data analytics platform and expand its network of partners and data sources.

Norton co-founded the firm with Daniel Nadler, the founder of artificial intelligence firm Kensho Technologies, which was bought by S&P Global for over $700 million in 2018. EDO’s CEO is Kevin Krim, the former head of CNBC Digital.

Shamrock—an investment firm that specializes in media, entertainment and communications—identified EDO as a “strategically differentiated player” in the TV data measurement space, Shamrock partner Laura Held said in a statement.

“EDO has amassed an impressive network of partners, clients and team members who we believe are reshaping what is possible from convergent TV measurement, ad performance and consumer engagement insights,” Held said.

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Genies Wants To Help Creators Build ‘Avatar Ecosystems’

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Genies Wants To Help Creators Build ‘Avatar Ecosystems’

When avatar startup Genies raised $150 million in April, the company released an unusual message to the public: “Farewell.”

The Marina del Rey-based unicorn, which makes cartoon-like avatars for celebrities and aims to “build an avatar for every single person on Earth,” didn’t go under. Rather, Genies announced it would stay quiet for a while to focus on building avatar-creation products.

Genies representatives told dot.LA that the firm is now seeking more creators to try its creation tools for 3D avatars, digital fashion items and virtual experiences. On Thursday, the startup launched a three-week program called DIY Collective, which will mentor and financially support up-and-coming creatives.

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Here's What To Expect At LA Tech Week

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Here's What To Expect At LA Tech Week

LA Tech Week—a weeklong showcase of the region’s growing startup ecosystem—is coming this August.

The seven-day series of events, from Aug. 15 through Aug. 21, is a chance for the Los Angeles startup community to network, share insights and pitch themselves to investors. It comes a year after hundreds of people gathered for a similar event that allowed the L.A. tech community—often in the shadow of Silicon Valley—to flex its muscles.

From fireside chats with prominent founders to a panel on aerospace, here are some highlights from the roughly 30 events happening during LA Tech Week, including one hosted by dot.LA.

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AmazeVR Wants You To Attend K-Pop Concerts Virtually

Kristin Snyder

Kristin Snyder is an editorial intern for dot.la. She previously interned with Tiger Oak Media and led the arts section for UCLA's Daily Bruin.

AmazeVR Wants You To Attend K-Pop Concerts Virtually
Photo courtesy of AmazeVR

Virtual reality startup AmazeVR now has $17 million to further expand its VR concert experience.

The West Hollywood-based company’s latest funding amounts to a bet that virtual shows, a staple of the pandemic, are here to stay. Mirae Asset Capital led the Series B funding round, with Mirae Asset Financial Group subsidiary (Mirae Asset Venture Investment), CJ Investment, Smilegate Investment, GS Futures and LG Technology Ventures investing again. Mobile game maker Krafton joined the group—but South Korean entertainment company CJ ENM’s stake reveals AmazeVR’s plans to expand into K-pop world.

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