Gemini and Redpoint Ventures made the investment.
Israeli online video advertising start-up adap.TV has raised $10 million from Gemini Israel Funds and Redpoint Ventures. Gemini previously made a $1 million seed investment in the company. The present will be used to improve performance of the company’s product, expand the product range, and boost growth.
The company was founded earlier this year by its CEO, Amir Ashkenazi, and CTO Dr. Teg Grenager. Ashkenazi was a co-founder and CTO of Shopping.com. Grenager has a Ph.D. from Stanford University, and was previously a consultant at the firm Arthur D. Little, and a partner at Talking Dolphin Software.
adap.TV develops algorithms for analyzing video content in order to find the most suitable advertisement for viewers and customize it in real time. The platform enables websites such as YouTube to generate new revenue in addition to their current pre-roll and post-roll revenue sources. The company has cooperation agreements with content-sharing sites Metacafe and thePlatform.
Published by Globes [online], Israel business news - www.globes.co.il - on July 11, 2007
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