Digital Media Startup Samba TV Secures $30 Million
Samba TV announced the completion of $30 million in Series B financing. Seven investors participated in the round: Union Grove Venture Partners, Interpublic Group, MDC Partners, Time Warner Investments, Draper Associates, A+E Networks and Ambition VC.
Samba TV (formerly Flingo) is a smart TV apps publishing and advertising company that provides users with interactive TV experiences. The company’s proprietary technology is built directly into a TV or set-top box in order to facilitate the recognition of onscreen content, both live and time-shifted. It also makes relevant information available on a nearby second screen. With the push of a button, users are able to retrieve more information about onscreen content, recommendations for similar shows, and interact socially with shows.
The interactive TV feature also enables users to use their remotes to check in or follow any program on Facebook and Twitter. They can vote for their favorite shows and people, share their views about programs, receive notifications when shows are about to begin and when new seasons get released, and receive celebrity gossip.
According to the company, Samba TV will use the funding to expand operations internationally and to launch a variety of transformative products in the media and advertising industry.
