Flingo Gains Funding from Mark Cuban and Gary Lauder
Smart TV app-maker Flingo has gained an additional $1 million in Series A funding thanks to an investment from entrepreneur Mark Cuban and Gary Lauder, managing director of Lauder Partners, LLC. Flingo raised $7 million in Series A funding from August Partners in February, 2012.
Cuban discovered Flingo at this year's CES, where he caught a demonstration of its SyncApps technology. SyncApps let viewers share what they're watching directly from their televisions.
"I'm excited to be part of the Flingo experience. I truly believe the future of TV is TV and Flingo will be one of the companies out front," says Cuban.
Flingo will use the additional funding to expand with smart TV and device manufacturers around the world. The company already has partnerships with Samsung, LG, Vizio, Sanyo, Insignia, Western Digital, and Netgear. It also counts partnerships with such media companies as Fox, A+E, and Showtime.
"Working with Mark Cuban and Gary Lauder, who have an overwhelmingly successful investment record in the technology and digital media industries, and their colleagues in the industry helps shape our product roadmap and engagement model with media companies and operators," says Ashwin Navin, CEO and co-founder of Flingo.
Aiming to blur the lines between standard and connected TV, Flingo offers second-screen without the apps.
Smart TV app-maker will improve system for recognizing broadcast content in real-time.
Agreement gives premium content owners a way to tap the growing demand for advertising on multiple screens.