UPDATE: We are hearing that the acquisition price tag is closer to $30m and possibly even higher.
Another great exit for the Toronto startup community and some great news in advance of CIX in a few weeks. Toronto based Cognovision has reportedly been acquired by intel. According to DailyDOOH, which covers the digital out of home market, the pricetag was $17m.
Cognovision was the winner of the CIX pitch competition last year.
I have to admit that when I first heard the Cognovision pitch, it felt holodeck cool. It also seemed “too good to be true” — Turns out I was wrong and the company shot to ~$1m in revenue pretty quickly. Using a camera on top of a digital display, Cognovision could give you some rough estimates that covered:
- Actual Impressions – The number of people who look at your displays
- Length of Impressions – How long people look for
- Potential Audience Size – The number of people who walk by
- Dwell Time – How long people stay near your displays
- Anonymous Demographics – Demographics of your audience (gender and age bracket)
Congrats to Shahzad, Haroon an the entire team.
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