Flingo raises $7M to expand device footprint, improve ACR
TV app specialist Flingo said it raised $7 million in Series A funding from August Capital.
One of Flingo’s most recent clients is A+E Networks, which said it will introduce some social networking functions based on Flingo’s social TV capabilities on the A&E and History channels.
Viewers of A&E and History will be able to perform one-click sharing to Twitter and Facebook, without having to look up hashtags, the official Twitter account or Facebook page, while watching TV.
Flingo also has what it calls SyncApps, which bring in contextual information. Broadcasters can make their programming more interactive using the SyncApps platform. The core capability of SyncApps is the ability to automatically identify a program; once that is accomplished, SyncApps can immediately deliver contextually relevant content directly to the viewer's TV, including check-ins, tweets, polls, quizzes, special offers and more, Flingo explained.
Flingo plans to use the new funding for two purposes. One is to expand its device footprint. Flingo is available on smart TVs and devices from Samsung, LG, Vizio, Sanyo, Insignia, Western Digital and Netgear. The company also plans to further develop its automatic content recognition (ACR) infrastructure, the underlying element that performs the identification of thousands of broadcast network programs around the world in real time.
August Capital is known for investing in such high-tech companies as Microsoft, Intuit, Seagate, Sun, Skype, Compaq and Atheros. The venture company will get two seats on Flingo’s board of directors. David Marquardt, a 30-year board member of Microsoft, and Howard Hartenbaum, a founding investor in Skype, will get the board seats.
“Flingo has the potential to build a very large business enabling new experiences around broadcast television,” said Marquardt, a co-founder of August Capital. “The company already has gained strong traction with the top names in TV programming, consumer electronics and digital media.”
Flingo said its Smart TV software, which can also integrate streaming video, dynamic advertising and broadcast TV, is currently available on 7.8 million screens in 118 countries worldwide.