Conviva, an over-the-top TV data business, said it raised $40 million in strategic funding from new and existing investors.
Participating in the round of funding are existing investors Time Warner Investments, New Enterprise Associates and Foundation Capital, plus new investor Future Fund.
Conviva has software sensors that are deployed on 2.5 billion devices globally and measure more than 1 billion streaming minutes per day of premium video for HBO, Sky, Turner and other content companies.
The company says it saw 80% growth in viewing minutes in 2016 and expects 150% growth in 2017.
"We have consistently been growing faster than the overall market and have developed a strong, sustainable business model,” said Hui Zhang, cofounder and CEO of Conviva. “We are excited to close this round of funding so we can accelerate our new product offerings and our global market expansion, extending our technology and market leadership in OTT measurement and analytics.”
The majority of Conviva AVOD, SVOD and pay-TV operators are in North America and Europe. The company plans to expand its existing presence in Latin America and Asia. The funding will be used to expand all global sales, marketing and R&D activities.
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