Start-up neuroscience analytics firm Spark Neuro has raised $13.5 million in funding from eight investors including actor Will Smith, former Disney CEO Michael Eisner and tech investor Peter Thiel.
The funding is for an electroencephalogram (EEG) headset that evaluates electrical patterns in the brain, processing audience engagement when viewing adverts and creative content. Data from brain activity, electro-thermal activity, facial expressions and eye tracking is fed into proprietary algorithms, which determine a person’s emotional state to see if content resonates with customers.
Founded last year by Spencer Gerrol, the firm’s goal is to use this tech to replace focus groups and surveys, which are subject to a variety of biases including peer pressure.
The company is already working with high-profile clients including General Motors, Hulu, Paramount and Walmart.
Spencer said: “Traditional methods [to evaluate content] like focus groups, surveys and polls continuously fail because they are riddled with biases and incomplete data. At Spark Neuro we bring brands, studios and other content creators an unmatched ability to know whether or not their content will succeed.”
Recent research has shown that video content benefits the brain, and Premium content is 16% more personally relevant or engaging to customers than social feeds.
