LivingLens, a Liverpool based software provider which assists companies in turning consumer insight films into market research, has managed to rake in £1.3 million in funding.
LivingLens provides an enterprise video analytics technology platform that enables brands to capture and analyze the consumer-shared image, audio, and video content via speech, actions, and sentiment, therefore translating human behavior into the aforementioned insights. Their claim to fame is making the job of working with video efficient and scalable by breaking down the video into a usable data asset that enables fast insights creation.
Participating in the round were the Angel CoFund, as well as a host of undisclosed angel investors from the marketing and financial sectors.
The new inflow of capital will go towards launching operations in the US and will also be used to expand its sales, marketing and customer success teams, as well as towards further development of their Enterprise video analytics technology platform.
Carl Wong, CEO of LivingLens, commented on the new funding:
We are delighted to announce this funding round, which will enable us to more deeply support our customers, accelerate the development of new capabilities that will add more value for clients, and, ultimately, scale the business. We are now working with some of the world’s largest brands and agencies to help them to get closer to their consumers and drive more value out of consumer video as a valuable source of insight, and expect 2017 to be a really strong year for our business.
Previously, LivingLens had raised an accumulated $2.01 million through three different rounds since January 2014.
Tim Mills, investment director at the Angel CoFund, commented on his firm’s decision to invest in LivingLens:
In today’s digitally driven economy, it’s increasingly difficult for brands to capture the attention of customers. Innovative technology to harness consumer insight has never been more important, for which LivingLens is leading the way.
Some of LivingLens’ clients include Unilever and The Carphone Warehouse.
