- With this investment of nearly $80 million, LG will become Alphonso’s largest investor with a controlling stake of more than 50 percent
- This is Alphonso’s first investment round since its Series A financing of $5.6 million in 2017, led by Manifest Investment Partners
LG Electronics (LG) and Alphonso announced that the former has made a significant investment in Alphonso . With this investment of nearly $80 million, LG will become Alphonso’s largest investor with a controlling stake of more than 50 percent. LG plans to utilise Alphonso software and services – including Alphonso’s data analytics, media planning and activation, and Video AI capabilities with its range of home entertainment products.
Park Hyoung-sei, president of the LG Home Entertainment Company said, “Our investment in Alphonso is a key component of our digital transformation strategy focusing on AI, big data and cloud to fundamentally change how consumers interact with their devices.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.”
Alphonso will continue to operate as an independent business
This is Alphonso’s first investment round since its Series A financing of $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.
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. 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.”
