Flingo Raises $1 Million From Mark Cuban, Gary Lauder5/02/2012 7:00 AM Eastern
Flingo, a social-TV and automatic content recognition startup whose customers include A+E Networks, Fox and Showtime Networks, announced that it has received $1 million in funding from entrepreneur Mark Cuban, chairman of HDNet and owner of the Dallas Mavericks, and Gary Lauder, managing director of investment firm Lauder Partners LLC.
The funding brings San Francisco-based Flingo's series A funding to $8 million, following a $7 million round from August Capital.
According to Flingo, Cuban discovered the company at the 2012 Consumer Electronics Show, where the startup was demonstrating its SyncApps technology, which lets viewers share what they're watching on TV with friends and followers on social networks.
Cuban said in a statement, "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."
The SyncApps platform also is designed to deliver contextually relevant content to a viewer's TV, laptop, tablet or smartphone while watching live TV using automatic content detection. Flingo claims it analyzes hundreds of channels of live TV content in real time.
Flingo's Smart TV software is available on over 8.5 million devices, via partnerships with manufacturers including Samsung Electronics, LG Electronics, Vizio, Sanyo, Insignia, Western Digital and Netgear.
The startup, founded in 2008, has announced partnerships with media companies including A+E, Fox, Showtime, Warner Bros., CBS, Blip and Vimeo.