Affectiva, a Waltham, MA-based provider of emotion recognition software, raised $14m in venture capital funding.
The round was led by Fenox Venture Capital with participation from CAC Holdings, Bandai Namco, and Sega Sammy Holdings.
The company intends to use the funds to hire new people to continue to innovate in Emotion AI and to accelerate growth into global markets.
Led by co-founder and Chief Executive Officer Dr. Rana el Kaliouby, Affectiva has developed emotion recognition technology that allows developers to create hyper-personalized experiences across multiple industries such as gaming, advertising, healthcare and automotive. E.g., game developers can create adaptive games that change based on a player’s mood, clinical researchers can develop applications that respond to a patient’s emotional state, and video communication platforms can optimize webinars so speakers can modify their presentations in real-time, based on an audience’s engagement.
The company also announced that Nick Langeveld has been named Chairman of the Board while Dr. Rana el Kaliouby will be moving into the role of Chief Executive Officer.
An MIT Media Lab spin-off, Affectiva provides its solutions to more than 1,400 brands to gather insight and analytics in consumer emotional engagement.