Semantic advertising solutions company Peer39 Inc. has raised $5.2 million, out of the $7.2 million that it plans to raise, according to a statement filed with the US Securities and Exchange Commission (SEC). The company will use the money to expand its operations in the US and enter other markets.
Evergreen Venture Partners, Canaan Partners, and other current investors participated in the round, which brings the amount of capital raised by Peer39 to $27.2 million.
Previous investors in Peer39 include Silicon Valley Bank, JPMorgan Partners, Dawntreader Ventures, and private investors John Medved and Dan Ciporen.
Peer39 president Amiad Solomon and Nir Bareket founded the company in 2006. The company's semantic advertising technology enables advertisers to target online users with customized content in real time. The company is headquartered in New York City and has an R&D center in Israel.
Published by Globes [online], Israel business news - www.globes-online.com - on May 22, 2011
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