Search engine marketing developer Kenshoo Ltd. has obtained an additional investment from Sequoia Capital and Arts Alliance. The company did not disclose the amount of the investment, but said that proceeds would be used to "fuel its aggressive growth experienced worldwide".
"Techcrunch" says, "As with the Series A round, this second round of funding remained undisclosed, although our contact person at the company ensures it that this was an 'up-round' financing and that the valuation was '50% higher than the last time' it attracted outside capital." That investment, according to IVC Online, was a $1 million seed round by Gigi Levy-Weiss and Yaron Adler.
Kenshoo said that it experienced an exceptional 2008, which exceeded all financial and pre-defined success targets including significant global expansion of the client base across North America, Europe, Asia and the Pacific.
Kenshoo CTO Nir Cohen said, “Kenshoo is operating in a space where the need is unbelievably high, focused and diverse all at the same time."
Kenshoo CEO Yoav Izhar-Prato added, “We are experiencing aggressive and demanding growth with the industry’s most strategic partners. This up-round of financing was conducted in a short time period and… provides us with the ability to surge ahead in new markets and endeavors."
Published by Globes [online], Israel business news - www.globes-online.com - on March 4, 2009
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