TechCrunch March 5, 2014
Berlin-based startup TVSmiles, which has built a second-screen app-based loyalty program to encourage people to watch TV ads, has closed a $7 million Series A funding round, from prior investors Ventech. The new funding brings its total capital raised to $8M.
Other investors participating in the round include international VC firm e.ventures; Berlin seed VC German Startups Group (investing for the third time); Brandenburg Ventures; multimedia software maker Magix; and additional unnamed angel investors.
Much like Shazam does for music, TVSmiles’ tech analyses the audio signature of the TV ad the phone user is watching to identify it. It then pushes additional branded and campaign content to their phone so interactions can be tracked and rewarded with virtual currency. The virtual currency (Smiles) can then be redeemed by the user against partner products/at retail brand shops.