New Delhi, Jun 15 (PTI) SyncMedia, a tech platform that enables marketers to measure media performance, on Monday said it has acquired media-tech company, Adorithm.
Co-founded in 2019 by Prakhar Gupta, Amit Duggal and Shashank Pathak, Adorithm uses modern day artificial intelligence (AI) and machine learning (ML) algorithms to help brand marketers, agencies and start-ups drive better performance of their media spends.
“As part of the acquisition, SyncMedia would absorb the team, product, and intellectual property (IP)/intellectual rights (IR) of Adorithm for USD 1 million (about Rs 7.6 crore),” a statement said.
With this acquisition, SyncMedia will derive enhanced capabilities to make its product offerings more data-driven and provide better value to their customers using AI/ML algorithms, it added.
Data-driven insights along with understanding performance and impact on business KPIs (key performance indicators) will help in identifying and planning TV upfronts for better targeting of linear TV campaigns. This will allow brands to optimise spends across screens.
“SyncMedia has been a forefront media company with a strong market presence in terms of knowledge, leadership, sales and services supporting 100 plus brands, including HUL, Vivo, Apple, H&M, Philips, Pizza Hut, Maruti, Ford, Pepsi, Lufthansa, Ultratech, Samsung, Mankind, and 3M, within a short span of three years,” SyncMedia founder and CEO Anubhav Sharma said.
With this acquisition, SyncMedia will be able to cater to customers with deep insights backed by enhanced AI/ML expertise, he added.
“Our solution provides sophisticated cause-and-effect analytics revealing the optimisation opportunities for brands, media agencies and broadcasters. We are aiming around 100 per cent growth in revenues with our increased focus on digital-first companies,” he said.
Gupta said several companies across industries are investing sizable amounts of money in marketing and still rely on traditional methods to evaluate performance.
“This makes it difficult for them to calculate return on investment (ROI). Within a short span of time, SyncMedia has already made a big mark by introducing the new way of advertising and now with added capabilities, we are confident that the marketers would follow such models of evaluating results,” he said.