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Flingo has been one of the better advertising integration companies in its field since its launch, but the company is now taking the next step. The company specializes in getting interactive advertising and streaming video in Smart TVs and is looking to grow and has taken several steps to make sure that they are being taken a bit more seriously these days.

The first step to becoming more powerful in its field was completed when a Series A Funding Round, led by August Capital, brought in $7 million. The company has also added two new board members who bring much-needed heft to the company’s roster. August Capital’s David Marquart joins the Flingo team as well as Howard Hartenbaum, the founding investor of Skype (News - Alert).

Flingo’s software is currently integrated into as many as 7.8 million Smart TVs and other devices that support streaming video. Among the features that Flingo software is able to bring its users is the ability to build applications that can stream internet video to television sets. There are also a number of programs that use Flingo technology in the automatic content recognition field. This means that the app can actually detect what a person is watching simply by specific words in dialogue.

The content recognition technology in particular can help advertisers send specially tailored ads to viewers. While that is good for the advertisers, there is also something for the viewer. Flingo’s tech allows people to quickly and easily share what they are watching using some of the more popular social networking sites like Twitter or Facebook. 

Having been founded in 2008, Flingo has been able to go it alone for quite a while. Co-founder and CEO Ashwin Navin (News - Alert) says that while the company had been relatively successful with its founding business model, he realized it was time to raise a little more capital. In the long run, Flingo, being able to grow a bit, will be beneficial for everyone who deals with the Smart TV market.