Shoreditch’s Big Sofa forecasts ‘material revenue contributions’ from new US contracts

Video analytics firm Big Sofa has solidified its foothold across the Atlantic with new contracts in the US.

The Shoreditch-headquartered firm secured deals with American retailer Target Corporation and Zurich North America, the US arm of the global insurance group.

Both companies signed up to Big Sofa’s monthly subscription model on initial terms of six and 12 months respectively.

Big Sofa, which provides video analytics services for consumer brands and market research agencies, has forecast the contracts to deliver “material revenue contributions” in 2018.

Target will use Big Sofa’s technology and expertise to analyse video content and gain insights into in-store consumer behaviour and preferences.

Zurich, meanwhile, will tap into Big Sofa’s services to data-mine and analyse customer video content.

Big Sofa CEO Simon Lidington 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.”