Smart TV app publisher Flingo, which in February announced it raised $7 million in a funding round led by VC firm August Capital, today said it added another $1 million to the total with the help of a major name in industry, Mark Cuban.
The cash will be used to help Flingo expand its device footprint on additional smart TVs and devices; it already has presence on products from Samsung, LG, Vizio, Sanyo, Insignia, Western Digital and Netgear.
It also will help the company refine its automatic content recognition infrastructure, which identifies thousands of broadcast network programs around the world in real-time and allows content providers and operators to send contextually relevant content to the viewer's TV, laptop, tablet or smartphone.
Cuban, the founder of Broadcast.com, chairman of HDNet, and owner of the Dallas Mavericks, Landmark Theatres, and Magnolia Pictures, got involved in the funding round after seeing a demo of the software at CES 2012.
Gary Lauder, managing director of Lauder Partners LLC, also joined the late funding round.
Flingo currently is available on more than 8.5 million screens, in 118 countries. Its smart TV software integrates a social experience with broadcast content on the TV and on second screens such as tablets, laptops and smartphones.
"Working with Mark Cuban and Gary Lauder, who have an overwhelmingly successful investment record in the technology and digital media industries, and their colleagues in the industry helps shape our product roadmap and engagement model with media companies and operators," said Ashwin Navin, CEO and co-founder of Flingo. "Their confidence in our company and shared belief in our vision is tremendous validation of our role in the TV ecosystem."
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