viisights Closes $1.2 Million in Seed Funding Led By TheTime together with, Maxfield Capital, ASF Ventures and LETA Capital
) viisights (www.viisights.com), the video intelligence Tel-Aviv based company, announced today it closed $1.2 million in seed funding led by TheTime together with Maxfield Capital, ASF Ventures and LETA Capital. The funds will be used to enhance the core technology and for team expansion.
Video content is popular like never before, according to emarketer research in 2015 adults spend more than 5.5 hours each day watching video and more than 1:16 hours per day watching digital video. That being said digital video monetization potential is behind display due to shortage in high quality discoverable inventory, which cause publishers revenues to be generated from small portion of their entire video content library. User generated content is barely discoverable and monetized, targeting technology is limited and there are no acceptable industry standards for handling fraud and measurement.
viisights, the video data management and intelligence platform provides data as a service (DAAS) analytics solutions for content discovery, brand safety and targeting. The platform offers a one-stop-shop for video metadata and user-profile management. viisights expands the revenues for publishers with large video content libraries and delivers higher quality video ad targeting data for advertisers.
Traditional platforms were designed for text, but analyzing video requires wildly different technology. Video differs in ways from audio and text such as how and when we discover it, the way we consume it and what kind of content we consume. User profile preferences for reading text online are different from his preferences for listening to music or watching a video. A user likes reading online about sports, but when watching video immerses themselves in cooking and travel clips, and never watches sports on video. Therefore, the user profile preferences for video will differ from his video watching preferences. This kind of profile segmentation has direct impact on the decision making process of technology platforms that discover content and target ads or any other personal communication. viisights provides the data and analytics for those tech platforms decision engines for working properly in video content environment.
Video content discovery and monetization lags that of other media. Video search is limited to the title, description and keyword tagging, which often returns limited and irrelevant results on the most premium sites. For example: when performing a Google video search for “sunny picnic day,” only the first three are relevant.
Advertising opportunities are equally ineffective. Advertisements accompanying video are frequently not relevant due to poor profile targeting or not contextually relevant. An in-market user for a new car should see video advertisements that best match the context to create impactful moments. Rather than show a video ad while the user is involved with watching cooking recipe, the ad is best delivered while watching NFL highlights. The video watching activity presents more intimate experience than reading a web-page and therefore it is imperative to provide the user an improved native watching experience. viisights delivers this vision.
“We have realized that in order to better monetize video content, a better content discovery capability is a must, while improved targeting will make the leap step over the incumbent first generation platforms. Most of the publishers’ ad revenues are generated from content that represents very small portion of their video library. The long tail is indeed very long. We are working hard to change that by providing existing content and targeting platforms the right wisdom and data for optimal performance within the video environment. The US digital video ad spending market is forecasted to be 9.59B$ for 2016 (source: emarketer, March 2015) with significant growth year over year, industry leaders will have to show competitive advantage in order to gain greater piece from that pie, viisights is there to help them”, said Asaf Birenzvieg, viisights co-founder and CEO.
viisights core technology is about “video understanding” - “Our unique technology that understands what any type of video content is about and to describe in great detail the content of various scenes. Our algorithms work top-down, extracting high-level concepts, in a way very similar to how humans process and understand content. For example: we can identify sports event like football and basketball, themes like romantic scene or dancing. This innovative approach is very different from the technologies used in the market which approach the problem bottom-up by breaking the content into objects and leave it to the upper layer service to figure out the complete picture”: said Simon Polak viisights Co-founder and chief scientist.
During 2016 viisights plans to announce major partnership agreements with video industry leaders and commercial customer deployments