Personalized ads solutions developer myThings Ltd. has raised $6 million in its third financing round, led by Deutsche Telekom AG (NYSE: DT; DAX: DTEG) venture capital arm T-Venture. Current investors Accel Partners, Carmel Ventures, Dotcorp Asset Management, and GP Bullhound also participated.
myThings CEO Benny Arbel and Udi Zaidman founded the company five years ago to develop technology for the personalized advertising market. Both men are serial entrepreneurs of internet ventures. myThings' technology enables online retailers and marketers to place personalized ads tailored to internet users' search habits. The company only uses non-personally identifiable information to perform its retargeting service.
Arbel told "Globes" that the strategic financing round put the company in an excellent position. "The company is profitable and is showing rapid 50% revenue growth each quarter. The present financing round will enable us to accelerate sales in our main market, Europe, and to penetrate Asian markets."
Arbel added, "Our products enables e-commerce sites show ads to users who visited their sites, but left them without completed a transaction. These ads are automatically created on the basis of activity on the e-commerce site. This increases the rate of repeat visitors and boosts transactions on the site."
Arbel said that the company's product increased transactions by leading online marketers by over 500%. Customers include Affiliate Window, Coremetrics, Venda, and XiTi.
Arbel said, "The investment by Deutsche Telekom, which controls 60% of internet traffic in Germany, will enable us to grow. The visual-conduct ads sector is hot, and we're one of the two leaders in the European market."
InteractiveMedia managing director Frank Bachér said, "What impressed us with myThings is the company's technology, which generates significant increases in return conversation rates in a retargeting market which is growing exponentially in Europe, as well as the responsiveness of the entire myThings team."
Published by Globes [online], Israel business news - www.globes-online.com - on November 23, 2010
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