Multiscreen video store platform developer LATTO announced today that it has closed a $4 million dollar funding round. This round brings the total amount raised by the company to $15 million dollars. The company did not provide details about the investors or what the funds will be used for.
LATTO observes that multiscreen and on-demand products are quickly flooding the TV market. With more and more users cutting their cords every day, content owners and other enterprises are looking for new ways to connect with users. There are a number of competing multiscreen startups and LATTO provides personalized and efficient monetization options for broadcasters, cable and satellite operators, aggregators, telecommunication operators and more.
LATTO also brings a unique interactive media service called LATTO Shop. The service, which cannot be found on any other competing platform, allows operators to provide personalized offers and ads as well as an interactive media store for both content and commerce. This new personalized service is derived from LATTO’s ability to analyze “Big Data”, which consists of data from the viewers and demographic data as well as data from the content and the product being promoted.
LATTO co-founder and CTO Alon Lavi said, "Considering the cherry-picking approach users have toward content consumption and shopping today, we aimed to provide a solution that allows our client to offer a truly personalized entertainment and shopping experience as a strategic goal. We approached this objective in three salient ways: LATTO-Go, LATTO-Pay, and LATTO-Shop. These collectively design a user-friendly, multiscreen experience in which operators can monetize their product from a single console and leverage their media assets across multiple devices.”
Published by Globes [online], Israel business news - www.globes-online.com - on July 31, 2013
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