US-based video analytics platform Iris.tv has secured $5.3m for its series A round from backers including Bertelsmann Digital Media Investments, the investment vehicle of publisher Bertelsmann, Wall Street Journal reported yesterday.
Venture capital firms Sierra Wasatch and Progress Ventures as well as angel investors including executives of media companies Machinima and Lionsgate as well as conglomerates AEG and Nielsen also contributed.
Iris.tv has developed a platform that recommends related videos to the one a user is currently watching. The platform’s aim is to retain users and monetise views on a publisher’s own website or app rather than forcing publishing companies to use video platform YouTube or social network Facebook.
Iris.tv also provides publishers with an insight into bounce rate, total views and how many users watched at least part of a video.
In 2013, Iris.tv secured $1.7m in seed funding from a range of angel investors.