Gary Lauder, Mark Cuban Invest in Flingo

Publisher of smart TV apps has now raised $8 million in Series A funding

By George Winslow -- Broadcasting & Cable, 5/2/2012 7:00:00 AM

In another sign of the growing interest in social TV, second screen apps and smart TVs, Flingo has received additional strategic investments from entrepreneur Mark Cuban and from Gary Lauder, managing director of Lauder Partners LLC. The agreements bring Flingo's Series A funding total to $8 million.

In February, the company announced that August Capital led a $7 million Series A financing.

"We are thrilled by these strategic partnerships with some of the brightest minds in video technology and programming," said Ashwin Navin, CEO and cofounder of Flingo. "Working with Mark Cuban and Gary Lauder, who have an overwhelmingly successful investment record in the technology and digital media industries, and their colleagues in the industry helps shape our product roadmap and engagement model with media companies and operators. Their confidence in our company and shared belief in our vision is tremendous validation of our role in the TV ecosystem. These relationships lay the foundation for many more partnerships we will announce in the future."

Founded in 2008, Flingo offers a range of products to help broadcasters offer a second screen and social TV applications that enhance the live TV viewing experience with additional content and social media features for tablets, laptops, smartphones and other second screens.

The funding will help Flingo expand its presence with smart TV and device manufacturers worldwide. On the hardware side, it is already working with such manufacturers as Samsung, LG, Vizio, Sanyo, Insignia, Western Digital and Netgear who have made its technology currently available on over 8.5 million screens, in 118 countries.

It has also announced partnerships with such media companies like Fox, A+E Networks, Showtime, Warner Bros., CBS, Blip, Vimeo and Linkin Park.

The company noted that Mark Cuban discovered Flingo at CES 2012, where he viewed a demo of its SyncApps technology being used to enhance TV programming and decided to invest in the company.

"I'm excited to be part of the Flingo experience," Cuban noted in a statement on his decision to invest. "I truly believe the future of TV is TV and Flingo will be one of the companies out front."