The Teuza fund has invested $1 million in Media Boost in the latest round, after investing $500,000 last year.
Online advertising software solutions start-up MediaBoost Ltd. is currently raising a few million dollars from a number of investors in its latest funding round. Local venture capital fund Teuza - A Fairchild Technology Venture Ltd. (TASE:TUZA) has invested $1 million in Media Boost in the latest round, after investing $500,000 last year.
MediaBoost develops technologies and products that automate and optimize decision-making for online media buying. At present most search engines, especially Google, hold auctions based on key words. The keyword-based auction determines the placing of the site on search engines' advertising pages, relative to other advertisers. The auction is continuous, meaning that an advertiser can change the amount he pays and have his ranking on the page changed accordingly. MediaBoost has developed an algorithm that attempts to predict how much a site owner should bid in order win an auction. The algorithm can even suggest alternative key words that cost less.
MediaBoost was founded in 2005 by CEO Alon Matas, formerly co-founder of Internet enterprise incubator Compile Ltd., and VP business development Uri Shtrichman, formerly marketing director at Empire Online, considered a pioneer in online advertising tool development and optimization. MediaBoost has received $1.5 million in investment so far from Teuza and Matas, prior to the current funding round.
Published by Globes [online], Israel business news - www.globes-online.com - on April 24, 2008
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