Tunity announces the source of its US$12 Million funding

Tunity, the developer of a unique Deep Learning and Computer Vision-based technology that allows to scan any muted live TV, enabling it to stream it’s audio directly to your mobile device today made a grand announcement  about a US$12 million funding which comes from its existing investors, such as John Mack, the former Morgan Stanley CEO, and Adam Neumann, the Founder and CEO of WeWork, who will be accompanied by new partners like  MGM Resorts International.

The funding will be utilised to complete the productisation of Tunity’s data, which has already grabbed a lion share of attention alluring significant interest from television networks and advertisers. Simultaneously, has enhanced its patented cloud-based Deep Learning and Computer Vision technology. Since its launch, the Tunity app has been downloaded more than 1.5 million times, further proving the company’s value proposition to consumers through organic adoption and continued usage. In view of this several key industry executives hire will be announced in the upcoming weeks.

After a user scans a nearby television screen, the Tunity app identifies the live video stream and its exact timing, syncing the audio with the user’s mobile device. Tunity currently works with more than 100 channels in the US, including FOX, CBS and ESPN.

Yaniv Davidson, the Founder of Tunity said: “With more than 20 per cent of Americans watching television outside of the home, today’s announcement brings us one step closer to transforming the way consumers interact with live programming they want to watch but can’t hear. Measuring these out-of-home audiences has tremendous value to brands and the networks. Extracting Tunity’s unique data insights will provide a better understanding of viewing habits and lead to more effective ad buying decisions.”

In a related announcement, Tunity and MGM Resorts will be launching a strategic partnership. MGM Resorts will use Tunity’s patented technology to enhance its guests’ experience and drive greater customer engagement, enabling its guests to hear any TV at its properties through the mobile application.

With regard to this Steve Zanella, MGM Resorts’ President of Core Properties, Las Vegas said “We are happy to invest in Tunity and its incredible technology, and are excited to partner with the company to further enhance the experience for guests within our resorts and beyond.We are always looking for new ways to elevate the guest experience, and Tunity’s technology will help us continue to lead the industry with an innovative and engaging approach to our customer experience.”