OTT measurement firm Conviva just wrapped a $40 million funding round, with Future Fund, New Enterprise Associates, Foundation Capital and Time Warner Investments all chipping in.
Conviva said the funds will support the development of new products, sales and marketing acceleration and international expansion. Most of the company’s AVOD, SVOD and pay TV clients are in North America and Europe, but the company wants to expand its existing presence in Latin America and Asia, and use the new funding to expand global sales, marketing, and R&D activities.
Conviva's processing platform and sensor network collects and computes video viewing metrics and metadata values from consumers' video viewing sessions in real-time. The company calls it a foundation for “deep, multi-departmental analytics and business intelligence applications powered by an AI for video system trained by the industry's most diverse, comprehensive, and granular OTT streaming dataset.” Conviva plans to use its new funding accelerate the development of platform capabilities, applications, and integrations with other data-driven systems and services.
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"We have consistently been growing faster than the overall market and have developed a strong, sustainable business model," said Dr. Hui Zhang, co-founder and CEO of Conviva, in a statement. "We are excited to close this round of funding so we can accelerate our new product offerings and our global market expansion, extending our technology and market leadership in OTT measurement and analytics."
Conviva said its software sensors are deployed across 2.5 billion devices globally and measure more than 1 billion streaming minutes per day of premium video content for publishers such as HBO, Sky and Turner. The company saw 80% growth in viewing minutes in 2016 and expects that growth to exceed 150% in 2017.