Believing big data is the future, TVbeat, a London start-up that provides real-time television ratings, has secured $2 million funding from UK-based Episode 1 and Czech-based Credo Ventures.
Established in 2013 and based in London, TVbeat provides big data, real-time ratings to broadcasters, advertisers and pay-TV providers and claims to offer audience measurement on a much greater scale than ever previously available.
It uses live data from connected set top boxes and other connected devices, turning customer interactions into actionable insights. The company recently rebranded from iptvbeat to reflect its analytical capability across any pay-TV platform, including cable, satellite, VOD and OTT, as well as IPTV.
The new funds, said TVbeat founder Robert Farazin, will allow the company to expand its presence in new markets and further develop its state-of-the-art platform. “We are thrilled to see Episode 1 and Credo Ventures recognising the huge potential that our platform offers the media industry,” Farazin said. “We are already measuring over 15 million customer interactions per day, on all digital platforms, regardless of how and where video is consumed…This volume of data can give TV editors, programme directors and marketing teams the kind of precise audience insight they could only have dreamt about in the past.”
For his part, Simon Murdoch of lead investor Episode 1 added: “We are excited about the disruptive potential of TVbeat because by drawing data from millions of views on a second by second level, across all platforms and devices, TVbeat represents a new generation of TV analytics, providing new insight in real time into audience behaviour for live and time shifted viewing.”
Farazin is confident that a better funded company will be able to expand its market appeal to additional customer bases, delivering more powerful and immersive set of tools for analysing data they already have. “Real-time insight into customer behaviour and habits helps pay TV providers to adjust their offering accordingly,” Farazin concluded. “Initial feedback from platforms is great and I expect this to be a strong portion of our business soon.”