Media Distillery secures €3 million of fundingThursday, January 7th, 2021
Media Distillery secures 3 million euro funding to accelerate growth
AMSTERDAM — Media Distillery, the leading provider of AI technology to understand what’s inside video, has secured 3 million euro from primarily a group of entrepreneurs and executives from the international TV and broadcast industry. The funding will be used to fuel the international expansion and extending the analysis technology platform by building revolutionary video discovery products.
Based in Amsterdam, Media Distillery was founded in 2014 to solve the increasing challenge of TV Operators and broadcasters to automatically understand what is in large amounts of video content. The company analyzed over 7.5 million hours of video content in 2020 and its award-winning Deep Content Understanding™ technology is impacting over 40 million viewers globally on a daily basis and is growing rapidly.
With this funding, Media Distillery brings on board a committed and experienced group that knows how what it takes to succeed and scale in the global TV industry. Media Distillery will use the funding to accelerate the expansion of the company’s team, the international business growth and to scale the research and development teams working on next-generation — more complex — content discovery solutions.
The video industry is experiencing a tremendous shift in consumer behavior in the past 5 years; research shows that in 2020 the average streaming household is using 3.3 video streaming platforms. As consumers are nowadays presented with a multitude of options for video consumption, it is increasingly relevant for video platforms to deliver content in a way and with a user experience that the consumer expects nowadays, to ensure a competitive advantage in the crowded market.
To empower platform providers to enhance the content discovery functionality and creating a ‘linear on demand’ experience, Media Distillery’s scalable Deep Content Understanding™ technology can analyze video content to determine relevant topics, events or specific time markers, all in real-time and cloud-based. This creates an ultimate user experience, increased consumer satisfaction, engagement and loyalty. Media Distillery technology is globally used by market-leading video platform providers such as Telenet (Belgium), YouSee (Denmark), Eutelsat (France) Proximus (Belgium) and VTR (Chile).
Roland Sars, CEO of Media Distillery is excited about the capital injection: “The commercial potential of creating a ‘sticky’ video environment is enormous when consumers are engaged to a video platform that is personalized to one’s interests and when they can discover relevant content in the blink of an eye. Media Distillery’s use of AI technology to tackle these matters and gives video platforms the opportunity to set themselves apart from competition and boost viewership metrics.”
Geert Vos, CTO and Founder of Media Distillery continues: “Our team is working hard every day to make an impact on the viewing experience of millions of consumers worldwide and this funding from leaders within our industry shows us we are on the right track, is a boost to our growth ambitions and stimulates us to continue innovating.”
Links: Media Distillery