Semantic Ad Firm Raises $10.5m
In the US, semantic ad solutions agency Peer39 has closed a $10.5m round in Series C funding, which it will use to accelerate business development and sales, as well as further develop its semantic ad technology platform.
Founded in 2006, Peer39’s patented algorithms use natural language processing and machine learning to understand page meaning and sentiment, in order to match the most relevant display and text advertising to consumers.
Last summer, the firm received $8m in investment funding, which it has used to further develop its SemanticMatch system, developed for use by publishers of portals, news sites, ad networks, social media, blogs and forums.
The latest round of investment was led by Canaan Partners, Dawntreader Ventures, Silicon Valley Bank, and JP Morgan, and brings the total financing raised by the company to more than $22m to date.
As part of the deal, Erez Shachar of Evergreen Venture Partners will be joining Peer39’s Board of Directors.
‘With this financial commitment, we will expand our US sales presence and continue to develop our proprietary technology, thus helping publishers get higher returns from their online content while enabling advertisers to confidently protect their brands,’ stated Peer39 Founder and CEO Amiad Solomon.
New York-headquartered Peer39 also has a research and development center in Israel, where it conducts primary research in semantic web technologies.
Web site: www.peer39.com .