Sequoia leads round for search engine co Kenshoo

The round is estimated to have been about $10 million.

Israeli Internet start-up Kenshoo Ltd. has closed another financing round, led by Sequoia Capital, which focuses on late-stage companies. Kenshoo did not disclose the size of the round, but ''Globes'' estimates that it was about $10 million.

This was Kenshoo's fourth financing round. Investors include Sequoia and Art Alliance. Kenshoo has also not disclosed how much it has raised in previous rounds, but an estimated $20 million has been invested in the company to date, including the current round.

888 Holding plc (LSE:888) CEO Gigi Levy was an early investor in the company, as well as private investor Amos Talmor.

Kenshoo develops search engine marketing (SEM) solutions. The company's technology can find relevant keywords in search engines, such as Google, Yahoo!, Bing, and even Facebook, and automatically match them to advertising campaigns.

Kenshoo VP marketing & products Alon Sheafer told "Globes", "The fact that the investment arm of Sequoia invested in us demonstrates that we found the right model and formula, although the company is already profitable and is considered a leader in its field."

Shaefer added that the current round was intended to finance expansion into new fields. "We have widespread activity in the SEM field, but we've identified other areas where we want to enter, social networks (such as Facebook), and the display sector (banners - N.P.)."

Published by Globes [online], Israel business news - - on July 28, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010

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