LG this week announced investment of nearly USD 80 million in Alphonso to become Alphonso’s largest investor with a controlling stake of more than 50 percent.
LG plans to utilize Alphonso software and services – including Alphonso’s data analytics, media planning and activation, and Video AI capabilities – with its broad range of home entertainment products. Alphonso’s combined offerings will enrich consumer services including content recommendations and LG’s own streaming service, LG Channels, to create a robust owned and operated first-screen, cross-device advertising platform with integrated analytics platform for LG TVs and the smart TV marketplace as a whole.
This is Alphonso’s first investment round since its Series A financing of USD 5.6 million in 2017, led by Manifest Investment Partners. Alphonso will continue to operate as an independent business under its current brand and leadership based in Silicon Valley.
Park Hyoung-sei, President of the LG Home Entertainment Company
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.
Ashish Chordia, Founder and CEO of Alphonso
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.
