LG Electronics (LG) has recently announced an investment of nearly USD 80 million in the TV data firm Alphonso.
This aims to bring together the two TV industry leaders’ technologies and innovations to LG’s smart TV lineup. With the said significant investment, LG will become Alphonso’s largest investor with a controlling stake of more than 50%.
“With Alphonso’s TV data analysis capabilities, LG will be able to better fulfill consumers’ needs by providing even more customized services and content to consumers. We are proud to welcome Alphonso to the LG family.” Park Hyoung-sei, president of the LG Home Entertainment Company, stated.
According to LG, the company plans to utilize Alphonso software and services, including Alphonso’s data analytics, media planning and activation, and Video AI capabilities, with its wide variety of home entertainment products. This would enhance consumer services, including content recommendations and LG’s own streaming service, and LG Channels. Moreover, this is also to develop a strong owned and operated first-screen, cross-device advertising platform with an integrated analytics platform for LG TVs.
“LG and Alphonso have a shared vision for advancing the smart TV ecosystem through innovative software and services oriented toward modern new consumer experiences on one end, and highly flexible, lucrative advertising, planning, and measurement offerings for brands, agencies, and broadcasters on the other,” said Ashish Chordia, founder and CEO of Alphonso. “Becoming part of LG Electronics gives Alphonso the backing of one of the world’s leaders in home entertainment products, with access to a massive global inventory of connected TV screens. We can now maximize our mutual impact on the TV marketplace as we bring our products together and deliver immense value for the ecosystem.” Chordia added.
Meanwhile, this is the TV data firm’s first investment series since its Series A financing of USD 5.6 million back in 2017, led by Manifest Investment Partners. However, Alphonso will continue to operate as an independent business under its current brand and leadership based in Silicon Valley.