NICTA has helped mobile video engagement platform, Incoming Media, successfully close a $US4.9m Series A financing round led by Australian venture capital firm, OneVentures, and Intel Capital, Intel Corporation's global investment organisation.
The funds will be used to expand Incoming Media’s research and development efforts and extend the company’s reach into new geographic and vertical markets.
“NICTA’s entrepreneurial culture and world-class expertise in machine learning and networks research have been critical to our success,” Incoming Media co-founder, David McKeague, said.
“This new funding puts us in a position to ramp up our Australian data science and engineering efforts to address the commercial opportunities presented by media companies whose interest in monetising mobile video applications is rapidly increasing.”
"This is an important milestone and a great outcome for the Incoming Media team,” said Hugh Durrant-Whyte, CEO, NICTA. “Incoming has a hugely talented engineering and management team based in Australia and the US together with a great product in the key video technology area. This latest funding round will boost Incoming's planned expansion and the development of its unique product line."
The Incoming Media platform uses predictive analytics and intelligent push technology to create flawless, personalised mobile video experiences. Incoming allows users to view mobile video content instantly and in high-definition, which encourages them to stay engaged with the video for longer periods. This opens up new business models and revenue opportunities for media companies, who have traditionally found it challenging to offer seamless HD-viewing experiences.
The company's on-device software uses machine learning to predict consumers’ preferences and pre-loads video content onto users’ mobile devices during the most cost-effective hours on the mobile network being used; this spares mobile viewers the frustration of searching for video content, enduring stalls or failures, and paying for expensive data streaming.
It currently brings its technology to market through two solutions – Smart Mobile DVR and Push Video Notifications. Together, these solutions help mobile video app publishers to not only create a new, flawless mobile video experience that attracts new users, but also to then re-engage their user base and significantly increase user retention.
The technology is implemented in a lightweight SDK that can be quickly integrated into third party mobile apps, while allowing those apps to continue using their existing infrastructure, such as content management systems, CDNs, players and DRMs.
The Smart Mobile DVR solution allows mobile video app publishers to predict which videos from the video sources associated with the app will be of high interest to the viewer and then intelligently pre-load those videos on to the viewer’s mobile device.
The Push Video Notifications solution re-engages viewers with an app. Users go to their mobile devices over 100 times a day for updates and entertainment, providing app publishers with dozens of opportunities per day to re-engage viewers. Incoming utilises the existing notification system in the mobile device’s OS to push short-form video clips to users.
Through the use of predictive analytics, the Incoming platform determines the best content and time for the notification to maximise click-through rates and app re-engagement, significantly increasing notification click-through rates, retention and app opens.