Multiscreen video store platform Latto, which offers a white label solution for Telcos, Broadcasters, and Content Aggregators that want to get in on the multi-screen steaming and on-demand video action, has closed a $4 million dollar funding round, adding to the $11 million that the Israeli startup has previously raised.
The new investment comes from an unnamed private Luxemburg-based fund, though according to CrunchBase data this is likely previous backer Neurato Investments. Latto’s other earlier investors include 2B Angels and Plus Ventures.
Operating in an ever more crowded market — Latto’s competitors include The Platform, SeaChange, Quickplay, and Ooyala, as well as Cisco and Ericsson at the Telco end of the market — the company is tapping into the so-called ‘cord cutting’ trend that is seeing consumer uptake for ‘Over-the-Top’ (OTT) video. In addition, the advent of multiple devices (PCs, smartphones, set-top boxes, connected TVs, and tablets) is seeing the need for a multiscreen solution, providing video assets that target and are interoperable with different screen resolutions and codec support.
To that end, Latto is talking up its personalisation and ecommerce features that offer new ways to help clients monetize their content and multiscreen offerings. Specifically, this comes in the form of Latto Shop, which enables operators to provide personalized offers and ads as well as an “interactive media store” for both content and commerce.
One way to think of Latto shop is as an e-commerce site within a video watching experience, with personalised content and offerings powered by the “Big Data” that the platform captures, consisting of data from viewers — who and where the viewer is, what they like, and their viewing and purchase behavior — as well as data harvested from the content and the product being promoted.
The pitch to operators is that Latto Shop provides additional incremental revenue streams, in addition to the core OTT offering.
In terms of existing customers, the startup isn’t able to publicly say which operators’ multiscreen offerings it’s currently powering, presumably due to commercial agreements, though a quick scan of Latto’s previous PR points to many of these being based in Asia.