Please walk us through your entrepreneurial journey and background before you started? Any interesting stories?
The Concept started with information from my family’s network presence in Movie Advertising on Print Media space. I was urging my cousins to go Digital for their business and in that context I even spoke to few Movie producers as Digital Promotion Service on Mobile. We realized that there is a larger potential for reaching Consumers directly with a platform.
As I worked in Business Development role for Data Engineering services with Software Development across the world, I identified this opportunity in terms of Market need of Intelligent recommendation platform for Digital media content. As the future of media consumption will mostly be driven from Online Internet sources and its integration with devices, the technology platform will be critical in identifying the right target users.
The idea occurred to me towards the end of 2013 and I started validating the concepts with multiple users. I started working on this product in early 2014 with market validation of the concept and market research on users to validate the demand. Once proven, I personally started building the product in May 2014 and rest of the team joined me in June 2014.
We took our advisors help and invested a lot of efforts on evaluating multiple recommendation algorithms and how data from multiple sources & formats can be represented in digital vectors to compute the similarity. The correlation is not just within a language but across languages and also across categories. We completed our backend system by the end of Jan 2015 and started build the frontend Web portal for invited users feedback. We went full beta live to public in March 2015 with our B2C platform Mymoviematrix.
Sensing further opportunities with enterprises for the same problem statement, we started to pursue organizations that could make use of the same technology stack. By November of 2015 we managed to enrol a leading streaming platform from a big Broadcaster as a customer, providing them personalisation and recommendation services to match the end-user of the platform with preferred content.
We received seed funding in the month of March 2016. We’ve been able to scale sufficiently with this. Recently we’ve received accolades in the form of being nominated by Red Herring as one of the top 100 startups from Asia and being declared as “Top OTT Video Product innovators” by Frost and Sullivan.
About founding team
Amith Srinivas – Founder – Bachelors of Engineering (B.E) in Computer Science,Bangalore University More than 14 Years of Industry Experience from Startups to Big organizations in Product Engineering Solutions, Data Analytics, H/W Engineering,IP & Product Marketing – Low Cost Tablets. Covered all major geographies for Business Development – US, Europe, India.
Shivkumar Janakiraman, – BTech – Info Sc, NIT Surathkal, XIMB – MBA joined RecoSense soon after completing his MBA. He brings knowledge of Data science and marketing to the table.
Tell us little about your product/ platform
RecoSense is an Artificial Intelligence driven venture to provide data science driven stack to offer User Personalization, Content Interpretation, Recommendation, Anaytics.
The platform can match a user (based on his actions) with content that he would be interested in factoring in trending content, etc. This is done through an indigenous Knowledge graph IP which uses Natural language processing and machine learning. This can be used for Automated content interpretation, content classification, Metadata Intelligence. Our platform allows content owners to achieve higher user reach, better content discovery by end users, higher engagement, conversions. We act as a single data platform across multiple end points – Websites, apps, STB’s, etc. We additionally offer analytics on content consumption and User behaviour. Our platform can be used for content across:
- Broadcasters with digital content on Streaming platforms & Youtube channels
- Publisher networks
- Transaction portals like Ticket booking sites, Online travel agencies, E-commerce sites
Tell us about your customer traction
We are working with Sony LIV, Network 18, India Today group. We are in talks with Idea Cellular, Tata Sky, ALT Media and Book my Show, Frost Online portal etc.
How has been your association with IBM Global Entrepreneur? How important do you think IBM Global Entrepreneur is to help and improve the ecosystem?
We had a good association with IBM GEP as an enabler for startups to leverage SoftLayer Cloud. The area of improvement that would help the ecosystem (and us as a startup, incidentally) would be for IBM to partner with Startups for business support to take the offerings to market bundled with IBM’s own offerings. We did not receive much of a support on extending the relationship or for any promotion platform for us in IBM Market place.
What’s your take on the IBM Cloud? How is it helping your start-up grow?
IBM softlayer was the first cloud Recosense used to test and deploy its offerings. The softlayer as mentioned earlier has been really helpful.
One possible area of improvement would be to provide more DevOps support in terms of in-person help. We needed more assistance in terms of scaling areas.
What is your road ahead for your start-up?
We are expanding our presence beyond the India market to global markets. We are also working with Telcos, Non-Digital Media companies for Digital Transformation of Enterprise content and to enable the Customer experience of it on Digital platform. Our startup is looking to raise Series A fund in the coming year. Strengthening the IP by adding further intelligences is a part of our plan.
We’re planning to use the technology stack to foray into the following areas:
- Ad networks providing our own Data management platform to personalise ads.
- Marketing cloud for video: This would help conceptualise, distribute and monitor campaigns.