Affectiva absorbed $12 million in a third round of investment for its emotion measurement technology that helps brands and businesses gain insight about their consumers.
The company’s flagship products are Affdex, an automated facial coding platform, and Q Sensor, a wearable biometic sensor. Businesses, companies, and researchers can use these tools to read the emotional response of viewers to published video content.
Affdex can be integrated into ads, clips, and TV shows. Via webcam, it will read the emotional response of the viewer and provide an “accurate, scalable” emotional insight. These insights can then be used to improve the relevance of published content, ramp up traffic, increase revenue, and optimize ad performance, the company claims.
“Capturing and viewing online video has become mainstream. The ability to effectively measure real-time emotion while consumers are watching video has the potential to improve online engagement and satisfaction for users in addition to creating opportunities for marketers to more effectively determine what consumers care most about,” said venture capitalist Mary Meeker in a press release.
Companies can also use the Q Sensor to collect and analyze consumer data. Affectiva says that hundreds of universities and research institutions are already using the technology to develop healthcare apps.
Based on a large repository of naturally recurring emotion, Affectiva offers a deep glimpse into the way audiences react to what they see online. It was started as a spin-off of the MIT Media Lab in 2009 by professor Rosalind W. Picard and research scientist Rana el Kaliouby.
The company previously raised $7.7 million from WPP, Myrian Capital, and the Peder Wallenberg Charitable Trust. It has also won several National Science Foundation grants.
Today’s investment was led by prestigious venture capital firm Kleiner Perkins Caulfield & Byers and Li Ka-shing’s Horizons Ventures. The new funding will go towards further developing the technology and accelerating product development. It is based in Waltham, MA.