Cognitive Networks, a San Francisco, CA-based provider of real-time data services that enable Enhanced TV on Smart TVs, raised $3.5m in funding.
DCM Ventures made a $1.5m in venture capital investment while Silicon Valley Bank provided a $2m structured venture debt loan. In conjunction with the funding, Jason Krikorian, general partner of DCM Ventures and co-founder of Sling Media, will join Cognitive’s board.
The company intends to use the funds to continue to scale its platform and operations.
Led by Michael Collette, CEO, Cognitive Networks provides a cloud-based content recognition service that enables Enhanced TV on Smart TVs. Its service allows content providers to offer people “smart” things to do while watching TV on their Smart TVs, to increase customer engagement, grow audiences.
The company had already raised $2.5m from Rogers Venture Partners.
FinSMEs
25/06/2013