Vyng, a Venice, CA-based company focused on enabling users to begin conversations on the lockscreen, raised $4m in Series A funding.
The round was led by Omidyar Network India and returning investor March Capital Partners, with participation from Alpha Edison and the Entrepreneur Fund.
The company intends to use the funds to grow the team and continue to develop patents that drive the video content experience on smartphones.
Led by Paul Kats, CEO and Co-Founder, Vyng has developed lockscreen technology that surfaces content trapped in a user’s smartphone app and facilitates the quickest, most impactful way to communicate through the delivery of a video to the lockscreen of a device.
The technology allows users to create their own video ringtone or caller ID, or choose from a curated library of videos arranged by interest channels.
Since launch of Video Ringtones last year, it has served over two billion videos in 170 countries.
The company has three current patents for its propriety technology delivering video through calls and contextual texting.