Earlier this month, we first reported that TVision Insights — a MassChallenge alum that tracks TV viewer behavior through computer vision and eye-tracking technology — was in the midst of closing its largest round of funding yet.
ABC and The Weather Channel have made references to data collected by TVision.
On Wednesday, the MIT-born startup opened up about its new $6.8 million round, which was led by Cambridge's Accomplice, with participation from Golden Venture Partners, Jump Capital, ITOCHU Technology Ventures and Project 11 Ventures. This brings total funding to $9.3 million.
Dan Schiffman, CRO and co-founder at TVision, told BostInno that the startup currently works with three of the biggest TV networks in the United States, though he was unable to identify them due to non-disclosure agreements. However, ABC and The Weather Channel have both made public references to viewer attention data collected by TVision.
In an advertiser report by The Weather Channel, for instance, the TV network uses TVision data to show that the attention index of its viewers is higher than those watching cable news networks and other channels. It also uses TVision's data to show that viewers pay 24 percent more attention to ads on days when severe weather is happening.
One of the big problems TVision is solving is helping TV networks and advertisers figure out when viewers are actually watching and reacting to what's being show on TV. Companies like Nielsen have been able to measure when a TV is turned on, but not if someone walks away or isn't paying attention when an ad is playing.
For TVision, the big question it gets for TV networks is, "Is this a good advertising environment?" Schiffman said.
TVision can answer that question with a device it provides to households for about a year in exchange for a monthly check. Its devices are currently in 7,000 homes across the U.S. and Japan, according to TechCrunch. Using machine vision and eye-tracking technology, the device is able to passively record who's watching TV, if they're paying attention and how they're reacting. Schiffman made sure to point out that the device doesn't actually record any photos or video. "All we get are ones and zeroes," he said.
With its device, the startup can currently measure viewer attention across 285 channels on TV. It can also track the same behavior of viewers watching shows on Netflix, Hulu and Amazon Video. Netflix, in particular, has been cagey about sharing viewer behavior data in the past, with Nielsen having started its own scanning methods that Netflix has contested.
"I don't think we have even scratched the surface for how valuable that data can be."
Schiffman said TVision is able to track viewer behavior on Netflix and other so-called "over-the-top" content providers with a feature in its tracking device that kind of functions like Shazam, the app that can identify a song you're listening to. TVision's device listens to the sound of what's coming from the TV every two seconds and then checks the contents of that sound against a database to identify what show is being played. Schiffman said the device itself can't always tell the difference between shows that are both available on live TV and, say, Hulu, but the startup tries to determine the programming's source by listening to distinct sounds made by an over-the-top box like the Roku player and through viewer surveys.
While over-the-top providers like Netflix may not have traditional advertising, Schiffman said TVision's data can be used to see if viewers are paying attention to product placements within shows. It can also be used to help advertisers and TV networks understand how shows from over-the-top providers are changing the way content is consumed.
With 20 advertisers using TVision's data, Schiffman said the startup has more announcements to make in the coming months. "Our big thing is attention and how we can use that," he said. "I don't think we have even scratched the surface for how valuable that data can be."
TVision has 19 employees between offices in Boston, New York and Tokyo, and it plans to add 10 more by next summer. The company was co-founded by Schiffman, CEO Yan Liu, Pongpun Pong Laosettanun, Alex Amis and Raymond Fu.
