A week after buying Surphace Technology from AOL, Israeli start-up Outbrain is raising $11 million in an internal financing round. The company's investors apparently did not wish to introduce new investors into one of their most promising portfolio companies, and so are financing the round themselves. Venture capital firms GlenRock, Carmel Ventures, Gemini, and Lightspeed, and private investment firm Rhodium Israel, have invested $29 million in Outbrain since it was founded in 2007.
The company has developed a platform for rating and recommending content on blogs, news sites, and via RSS.
Outbrain co-founder and CEO Yaron Galai said today, "The acquisition of Surphace and the current financing round enable us to accelerate our technological developments, to continue growing our customer base, and to employ the most talented manpower, in order to continue meeting market demand."
Published by Globes [online], Israel business news - www.globes-online.com - on February 14, 2011
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