German startup Wywy bags USD7 million in Series B funding for expansion
German startup Wywy has raised USD7 million in Series B funding to monetize TV activities on mobile gadgets. The round was led by existing investor Cipio Partners, wrote TechCrunch.
According to Wywy's website, the company started in 2001 with audio and video technology. The firm only launched its second screen offerings last year. The startup's products include multi-screen ad synchronization, content sync technology for second screen apps, and real-time TV campaign tracking, the report said.
The company says it provides service for 200 channels in five countries. The firm's biggest goals include expansion in Europe and the US, TechCrunch reported.
In the funding release, Cipio managing partner Werner Dreesbach said: "Today, using a Second Screen device in parallel to watching TV has become the norm. It is clear that TV advertisers require new approaches to ensure the effectiveness of their campaigns. wywy's huge success with media agencies and TV advertisers in Germany made the decision to internationalize easy."