Boxfish Raises $7 Million in Funding To Make Your Cable Box Smarter.
Boxfish is a startup that has recently appeared over the last couple of years that will supposedly help television views to improve the way they find shows they’d might like to watch. With its recent decision of extending its technology to a number of consumer electronics manufacturers, cable providers, and third-party app developers, it has managed to raise an amount of $7 million in funding.
Boxfish is able to understand with whats happening on hundred of television channel, in real-time, by parsing the information that is gained through captions that are distributed with live television broadcasts. The information is then used to guide viewers to content befitting of them.
Moving On Up.
About a year and a half ago, Boxfish had leveraged its technology to launch and iPad application. This was soon followed up by an Android application that also had similar features as it iOS counterpart, as well as an API for third-party developers to create off its platform.
Less than a year has passed since then and Boxfish has gained more that 100 third-party developer with the use of its API and licensing data to create their own video discovery tools. This includes a number of well known cable companies, as well as consumer electronics manufacturers, who have planned to use this tool in order to better understand their viewers and target better content towards them.
This upsurge of business has soared Boxfish far pass its own second-screen app, and provides and additional layer of content discovery that will be able to be added directly into the cable set-top box and internet connected television sets. By granting access to their API license toward consumer electronics makers, broadcasters, and service providers, those gained partners will be able to create a next generation product that allows viewers to know more about certain shows and movies they previously might have not know about.
Funds and Expansion.
With all of that adding up, the company has also managed to raise an additional amount of $7million in funding from a Dublin-based investment firm Atlantic Bridge Ventures, along with Samsung. While Samsung may be providing a bit of money and could help Boxfish receive more distribution of its own products, this deal is not exclusive between the two and the company will continue to work with other consumer electronics manufacturers.
Co-founder Eoin Dowling has said that the funding will be used to increase the amount of people they have as the company beings to serve a new market. They have recently opened up a U.K. office, to prepare in offering the same sort of discovery data in that location as well.