Visiware raises €5 million to develop social TV services

French interactive TV gaming company Visiware has raised €5 million from Crédit Agricole Private Equity and Entrepreneur Venture. It said it would use some of the proceeds to develop its PlayAlong and social TV offerings.

Recently launched PlayAlong enables millions of viewers to participate simultaneously in TV shows from home using their laptop, tablet or smartphone.

Laurant Weill, chairman and founder of Visiware, said: “We are delighted to welcome Crédit Agricole Private Equity and Entrepreneur Venture, two quality investors, into our capital. Their long-term support will enable us to achieve our ambitious objectives. Visiware’s social TV products in conjunction with the PlayAlong platform, has very strong potential. They enable us to offer viewers a different TV experience that is adapted to new user behaviors. This offer enables stations and operators a chance to interact with their audience and develop new forms of monetisation. We thank Privateq Advisors AG for the invaluable help they have given us in organising this round.”