In today’s subscription-driven world, it is more difficult than ever to keep your shows straight. You might be binging a documentary on Netflix, watching last night’s episode of your favorite show on Hulu and waiting for the next chapter of “The Mandalorian” to drop on Disney+. That’s not to mention the blossoming Amazon Prime Video, Apple TV+, or more than 300 other streaming services out there. At times, it feels impossible to keep it all straight. That’s what Reelgood thought too.
So, the startup created a universal streaming guide to help lost subscribers keep their watching habits organized. After a successful launch, that service is helping lead the way on a $6.75 million Series A funding round for Reelgood.
Massive TV Undertaking
At its core, Reelgood’s streaming guide is a simple concept. It pulls in content from more than 330 streaming services, TV networks, and “TV Anywhere” plans from traditional cable companies and organizes it in one place. Big hitters like Netflix, Hulu, HBO, and Amazon Prime are present alongside free-to-use services like Tubi and Crackle.
However, that isn’t as simple as it sounds. The company’s head of data, Pablo Lucio Paredes says, “Putting together these streaming service libraries involves ingesting massive and unstructured amounts of data from hundreds of different sources for real-time matching and combination using machine learning and human curators.”
For users, the platform couldn’t be more convenient. All you have to do is browse the massive content library for something to watch. Clicking on an episode or movie will launch the service where it is hosted. Users can choose to limit what the library displays by specifying which services they are subscribed to.
The startup’s app currently boasts more than 10 million users and has raised over $11 million to date. Its latest funding round was led by August Capital, Reelgood’s seed investor, and Runa Capital. The cash injection of nearly $7 million will allow the startup to continue growing its service.
Big Data = Big Money
Despite its usefulness, Reelgood is totally free to use. So, how does the startup make money? A growing team of 18 employees has created AI-powered algorithms that translate user actions within the app into raw data.
Reelgood then licenses that data to big companies like Roku and Microsoft. The mention of data collection is enough to spark fear into some. However, there is nothing to worry about here. The data collected by Reelgood doesn’t have anything to do with your personal information or privacy—just your streaming choices.
It is used to help power services like Roku’s universal search feature. Meanwhile, hedge funds analyze the data as a whole to identify consumer patterns. Essentially, Reelgood acts a lot like the well-known Nielsen platform. Perhaps that’s because the startup hired ex-Nielsen senior VP of global measurement Mark Green.
Reelgood plans to use its latest funding to integrate its platform into more devices like smart TVs and streaming boxes in the days to come.