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TV ratings startup TVbeat raises US$2 million

London-based TV ratings startup Iptvbeat has raised US$2 million (€1.45 million) in funding and changed its name to TVbeat. 

UK-based, early-stage venture capital investor, Episode 1, and Czech Republic-based investor Credo Ventures backed the firm.

TVbeat founder Robert Farazin said “these funds will allow the company to expand its presence in new markets and further develop its state-of-the-art platform.“

He added that the name change reflected TVbeat’s analytical capability across any pay TV platform, including cable, satellite, VOD, OTT and IPTV.

TVbeat uses live data from connected set top boxes and other connected devices and has piloted its services to broadcasters, advertisers and pay TV platforms in Slovenia, Croatia and Serbia – with plans to expand further in Europe this year.

“We are already measuring over 15 million customer interactions per day, on all digital platforms, regardless of how and where video is consumed. This volume of data can give TV editors, programme directors and marketing teams the kind of precise audience insight they could only have dreamt about in the past,” said Farazin.