Globes Israeli e-commerce start-up Peer39 Inc. recently completed an $8.2 million financing round. Connecticut-based Canaan Partners led the round, alongside the company's existing investors.
Peer39 was founded a year ago and has raised $12 million to date. Investors include Dawntreader Ventures, JP Morgan unit Highbridge Capital, and private investors. One investor is Dan Ciporin, the former CEO of Shopping.com and now a venture partner at Canaan Partners, and advisor at the joint Lightspeed Ventures-Gemini Israel Funds' incubator LGI Lab. Another investor is Jonathan Medved, the founder and former partner at Israel Seed Partners
Peer39 is developing new online advertising technology for user generated content. Like other companies in the field, it is offering a product that enables advertisers to customize ads on users' Internet pages.
Sources inform ''Globes'' that Peer39 has developed a system with the help of experts in natural language and machine learning. The system can customize ad content on the basis of interaction with surfers, effectively making it possible to automatically understand text.
Canaan Partners declined to comment.
Published by Globes [online], Israel business news - www.globes-online.com - on November 8, 2007
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