Social TV start-up Flingo raises $7m VC funding
Flingo is the latest in a string of social TV start-ups to be singled out for major financial investment.
Flingo has raised $7 million in series A funding from August Capital, which the US firm says it will use to expand its device footprint as well as its automatic-content recognition infrastructure.
Flingo’s SyncApps technology is designed to automatically recognise content on TV – in less than three seconds – and then deliver related content or advertising directly on a viewer’s TV, laptop, tablet or smartphone.
The system also will allow viewers to share what they’re watching on Twitter and Facebook with one click.
The Flingo technology is currently available on 7.8 million smart TVs and other connected-TV devices in the US, via partnerships with manufacturers including Samsung Electronics, LG Electronics, Vizio, Sanyo, Insignia, Western Digital and Netgear.
“Flingo has the potential to build a very large business enabling new experiences around broadcast television,” August Capital co-founder David Marquardt said in a statement. “The company already has gained strong traction with the top names in TV programming, consumer electronics, and digital media. We’re excited to be a part of the team.”
Read the full article at Multichannel News