(l-r) Co-founders Matt Lynch and Simon Lidington
Big Sofa, the aim-listed international video analytics provider to consumer brands and market research agencies, has announced two significant contract wins in the US.
The contracts will see the company provide its services to Target, a leading US retailer, and Zurich North America, the US company of the global insurance group.
Both customers have retained Big Sofa on a monthly subscription model, with initial terms of six and 12 months respectively (beginning 1 January 2018).
Target will leverage Big Sofa's technology and expertise on a continuous basis to analyse existing and new video content to generate detailed insight into in-store consumer behaviour and preference.
Zurich will build on its Big Sofa subscription to data-mine and analyse both existing and new customer video content to facilitate Zurich's drive to put customers at the heart of its business strategy.
Simon Lidington, CEO of Big Sofa, said: "Big Sofa's status as the disruptive video analytics technology of choice for clients of Zurich's and Target's scale continues to validate our belief that video will transform the consumer insight market as the preferred medium for capturing real consumer behaviour.
“An increasing number of the largest companies in the world are choosing Big Sofa's technology for its unrivalled ability to deliver fast, high quality and cost-effective insight and consumer knowledge and these contract wins demonstrate our ability to convert relationships with these large, global organisations into high quality recurring revenue streams."
Big Sofa expects to publish a trading update for the year ended 31 December 2017 later in January 2018.