Outbrain, a New York-based content discovery platform, closed an $11m third round of funding.
Investors include existing backers Carmel Ventures, Gemini Israel Funds, GlenRock Israel, Rhodium and Lightspeed Venture Partners.
This round brings the total amount raised by the company to date to $29m.
Outbrain, which recently acquired Surphace Inc. (formerly Sphere), will use the new funds to further scale its operations, expanding its business development and sales teams in the United States while continuing to grow in Israel and across Europe. Additionally, the company intends to further invest in its recommendation technologies.
Commenting on the funding, Yaron Galai, co-founder and CEO of Outbrain, said: “The recent acquisition of Surphace along with this new round of funding allows us to accelerate our technology advancements, further scale our client base and hire top talent in order to keep up with market demands”.
Outbrain provides online publishers including USA Today, iVillage, Boston.com, Chicago Tribune, Newsweek, TheStreet, The Boston Globe and Slate, with a service for recommending content links. It is designed to increase page views, generate revenue and enhance the user experience.
The core Outbrain service is free for publishers and can be easily installed here.
Founded in 2006 by Mr. Galai and Ori Lahav, the company has R&D in Netanya, Israel.
FinSMEs
14/02/2011