US-based video discovery startup Boxfish bags $7M in Series B funding
Video discovery startup Boxfish has raised $7 million in its second round of funding which was led by Atlantic Bridge. The latest financing brings the firm's total raised capital to $10 million, according to GigaOM.
Other investors in the round include T-Ventures and Naya Ventures. Samsung also made a strategic investment in Boxfish, the report detailed.
Boxfish Chief Executive Officer (CEO) Eoin Dowling said: "The biggest use case for our technology is to be on the first screen. We survived long enough to monetize it."
Boxfish sifts through all the available information being broadcasted via live TV to gain real-time data about the content that viewers prefer to watch. Beginning just as a second-screen app, the company has now added more features to its offering which can be directly added to set-top boxes and smart TVs, the report explained.
Dowling also said the new capital will be used to hire more people in preparation for its expansion. The company recently opened a new office in the UK and is getting ready to offer discovery data in that area, TechCrunch said.