Parrot Analytics: Redefining Media Analytics
Kia Ora friends!
Last month has seen a significant pick up in startup activity as the financial conditions normalize and we have been taking a lot more incoming calls from new as well as existing companies. Release of ChatGPT by OpenAI has also been a catalyst for the VC ecosystem globally and a reminder that innovation doesn’t depend on interest rate cycles! We are looking at some startups like Lore Machine in this space.
We have invested in the follow-on funding rounds of mental health startups chnnl and Sahha, as well as deployed a significant check into Parrot Analytics, our latest investment that we are very excited about (details below).
Co-investment opportunities: Both Parrot Analytics and Lore Machine are available as co-investment opportunities to our LP’s at no additional cost. If you would like to connect with the companies please let us know.
NZVC Financials
Our LP’s will receive the financials of the fund before the end of February. The individual statements for tax filing purposes will be sent out in July, similar to last year. Let us know if you have any questions on either.
We expect to make our next capital call sometime in March as we are seeing several interesting opportunities in Fintech, AI, and an ocean farming startup! We have called 55% of committed capital to date and expect to call another 10% next.
Startup of the month: Parrot Analytics
This is one of New Zealand’s hidden gems! Parrot Analytics is a global leader in measuring the value of entertainment content, IP & talent in today’s attention economy. Gone are the days of Nielsen ratings which worked when everyone watched cable TV - with today’s diverse content consumption modes it is very hard to quantify the real demand. Existing audience measurement is outdated, panel-based, fragmented and disconnected from today’s unit economics. Empirical data is siloed and even the largest D2C platforms like Netflix only see a fraction of the complete audience picture. So, hundreds of $billions in media & entertainment decisions are made without a complete view of the value.
That’s where Parrot comes in with their tech that combines downloading and streaming data, social media comments, blogging sites, fan & critic rating sites, search queries, and photosharing sites to create the real picture of demand. It is the most news-cited entertainment analytics company on the planet. Parrot is already profitable & rapidly growing SaaS business with best-in-class unit economics for the $20B+ ARR global addressable market with entertainment product suite alone.
We like the vision of their founder Wared Seger to create the next global technology & entertainment company connecting consumers and creators. Parrot is already used by Amazon, Disney, facebook, Discovery, HBO Max, Nickelodeon, Dolby, Lego, Google, NBC Universal and several other studios. Think of them as the media’s operating system that captures TV demand, talent demand, movie demand and content valuation across diverse channels.
We are absolutely thrilled to be part of their Series B round. This will be one of our more mature investments but one where we have a high conviction to see significantly more upside. They are accepting commitments for another couple of weeks from value-add investors.
Best regards,
Mark Pavlyukovskyy, Ajay Gupta, and Glen Anderson