Deals

Mark Cuban believes in social TV, tops off Flingo’s funding

Flingo, one of the largest smart TV app publishers, has received another $1 million in funding from entrepreneur Mark Cuban, bringing its total first round to $8 million.

As the company tells it, Cuban first learned about Flingo while strolling by its CES booth earlier this year. After catching a glimpse at the company’s social TV platform, Cuban quickly struck up a conversation with Flingo CEO Ashwin Navin and wiggled his way into the funding round. He’s leading the additional funding together with Gary Lauder, managing director of Lauder Partners. In February, Flingo announced that it raised $7 million from August Capital.

“I’m excited to be part of the Flingo experience,” Cuban — owner of the arthouse cinema chain Landmark and Magnolia Pictures, and chairman of HDNet — said in a statement today. “I truly believe the future of TV is social TV and Flingo will be one of the companies out front.”

Flingo has developed a technology, dubbed SyncApps, that can detect what you’re watching in just a few seconds and communicate that information to your television, smartphone, or computer. Think of it like a location-based service for what you’re watching. SyncApps eliminates the need to track down hashtags or other content related to what you’re viewing, allowing you to seamlessly interact with content while you’re watching it.

The company says it will use the funding to expand its presence among smart TV and device makers. It already has partnerships with Samsung, LG, Vizio, and Western Digital. Navin calls Cuban’s support a “tremendous validation” of the company.

Flingo was founded in 2008 by former early Bittorrent employees Ashwin Navin, Alvir Navin, and David Harrison. The company currently has offices in San Francisco, Los Angeles, New York, and other cities.

Photo via Steven Rosenbaum/Flickr