FCB Health Network Invests in Wavio
Expanded partnership with IPG-owned network includes significant investment for the product development of "See Sound"
NEW YORK, April 28, 2020 /PRNewswire/ -- Wavio, a Deaf-owned software company, announced today that they have entered into a strategic partnership with AREA 23, an FCB Health Network Company, which includes a major investment deal for the development and product launch of "See Sound." "See Sound," created by AREA 23 and Wavio, is scheduled to launch later this year. The partnership provides the Network with company equity in Wavio and revenue share on product sales.
"See Sound" is a revolutionary home device that alerts people who are Deaf and hard of hearing to various household sounds, such as a baby crying or a fire alarm.
In a time when sound recognition technology is constantly advancing, the availability of smart devices for the Deaf community is severely lacking. There is currently no product on the market that can differentiate sounds or distinguish the ding of a microwave from the sound of glass breaking. Wavio's AI-driven platform, SoundAI, can recognize and distinguish up to 75 common household sounds. In addition, Wavio's patents provide broad IP protection for products or software that distinguish sounds and alert users in real time on their mobile devices.
"See Sound" has garnered international attention and captured the world's imagination, winning a multitude of awards, including the 2019 Innovation Grand Prix Lion at the Cannes Lions International Festival of Creativity.
"The team at AREA 23 has been passionate about this project from the start, and we are thrilled to partner with our client, Wavio, to get this product into the homes that need it most," said Tim Hawkey, AREA 23 chief creative officer. "Ask any Deaf person and they can tell you a story about how missing a sound caused them to face a potential danger. There are over 9 million Deaf households in the U.S. alone, so we see this product filling a huge unmet need."
"This is an amazing moment for Wavio," said Greyson Watkins, founder and CEO of Wavio. "With the global sound recognition market valued at $4.42 billion, Wavio is poised to be at the leading edge of it, driven by the support of an innovative partner like AREA 23 and the entire FCB Health Network. We've seen such great demand for the "See Sound" product that most of the initial inventory is already spoken for."
Wavio expects to produce 5,000 "See Sound" units for preorder in 2020.
For more information and to sign up for product updates, please visit: https://www.see-sound.com.
About AREA 23
AREA 23, an FCB Health Network Company, has been consistently recognized with top advertising industry awards and honors. In 2017, Med Ad News named AREA 23 "Agency of the Year," "Most Creative Agency" and "Most Admired Agency" — the first time that any agency was able to win the show's top three awards at once. In 2018, it took home the Med Ad News trifecta yet again and was also recognized as "Agency of the Year." But AREA 23 didn't stop there — in 2019, it was awarded "Agency of the Year" for the third consecutive year by Clio Health and took home "Most Admired Agency" for the fourth consecutive year by the Manny Awards. It was also named "Global Agency of the Year" and "Regional Agency of the Year" at the New York Festivals Global Awards. The agency was also recognized as "Large Agency of the Year" at the MM&M Awards and took home Titanium Best in Show. AREA 23's "See Sound" won the Innovation Grand Prix at Cannes Lions 2019.
About Wavio
Wavio is the market leader in sound recognition technology. The company was founded in 2015 by three Deaf entrepreneurs who share a common mission to ensure everyone has access to sound. Their proprietary SoundAI software recognizes and converts sound events from analog waves into intuitive, digital data. Through ML/AI technologies, Wavio powers multiple applications in key industries, including smart homes, safety, security, well-being, health, entertainment, and communication. Learn more at www.wavio.ai.
SOURCE Wavio; FCB Health Network
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