OTT data firm Conviva raises US$40m in funding

conviva-iconConviva, a data intelligence firm that works with clients like Sky, HBO and Turner, has raised US$40 million in funding. 

Existing backers Time Warner Investments, Foundation Capital and New Enterprise Associates (NEA) all participated in the round, alongside new investor, Future Fund.

Conviva said it would use the cash to grow internationally, expand all global sales, marketing, and R&D activities, and to support the development of new products.

While the majority of Conviva’s video-on-demand and pay TV customers are currently in North America and Europe, the company said it plans to expand its presence in Latin America and Asia.

“We have consistently been growing faster than the overall market and have developed a strong, sustainable business model,” said Conviva co-founder and CEO, Hui Zhang.

“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.”

Conviva offers tools designed to help clients to measure and analyse content consumption as viewers increasingly move to web-delivered, multi-device viewing patterns.

The company said its software sensors are currently deployed across 2.5 billion devices globally and measure more than one billion streaming minutes per day of premium video content.

Conviva claims it saw 80% growth in viewing minutes in the past year and expects that growth to exceed 150% in 2017.

“As the way people consume content continues to evolve, we believe Conviva will be a foundational element of measurement and analytics for the next generation of TV,” said Pete Sonsini, general partner and head of enterprise investing at NEA.