London-based, artificial Intelligence company
, Echobox that helps online publishing companies, hike referrals and revenue has raised $3.4 million in new funding, as reported in Techcrunch
. The financing was led by Mangrove Capital Partners
in association with LocalGlobe
According to the report, the company will use the fresh flow of funds to bolster its artificial intelligence (AI) algorithm and platform development for publishers and content creators across the globe.
“We will use our capital to innovate further and build an even better AI technology. We’re also expanding our sales and marketing efforts to ensure more online publishers can benefit from our technology,” Antoine Amann, Founder and CEO, Echobox, was reported as saying by the online publication.
In the world of publishing revenues, online impressions are making themselves count. And Echobox reportedly, is helping online publishers increase visibility and drive home tangible traffic. Its AI platform, says the company, takes large quantity of variables into account and analyses them in real time to determine optimum post performance for publishers.
The startup claims machine learning and algorithm can predict if an article can go viral and when it is the optimal time to post it. Its proprietary tech, Echobox Social
is tailored to understand the content generated by the publishers and help its editorial staff strengthen their presence on social media. It also tests images or headline combinations for Facebook and manages traffic in real-time and suggest post enhancements.
It is almost unavoidable how brands depend on social media platforms like Facebook and Twitter to spread stories and generate page views. Although Facebook’s latest news feed tweak, prioritizing friends rather than publishers could adversely affect the same.
In the post, Amann also said, “Facebook puts a lot of effort in ensuring the best possible experience for its users, but it’s clear that changes to its newsfeed can be disruptive for media companies. It’s one of the reasons why publishers are not well equipped to optimize content distribution online. It’s a massive and constantly evolving data science problem. This is where Echobox comes in.”
Meanwhile Michael Jackson, Partner, Mangrove Capital Partners was quoted
“Quality journalism plays an important role in society. By taking the data science out of online publishing, Echobox will allow journalists to focus on what they do best while ensuring publishers can thrive. Antoine and his team already have an impressive list of highly respected news organisations using the AI and the potential market is enormous.”
Echobox claims to harness artificial Intelligence and provide content insights to news publishing websites like The Telegraph
, Le Monde