Viola Private Equity is investing in personalized ads company myThings Ltd. as part of its $15 million financing round.
Viola said that part of the investment was made in March, as part of myThing's financing round led by Iris Capital, and joined by Accel Partners, Carmel Ventures, and Deutsche Telekom AG's (DAX: DTE; Pink Sheets: DTEGY) investment arm T-Venture. This is Iris Capital's first investment, just one week after it teamed up with France Télécom SA (Euronext; NYSE: FTE)-Orange and Publicis Groupe SA (Euronext: PUB) to set up a $300 million fund.
myThings, founded in 2005, creates personalized ads in real time via a per-impression basis. The company has sales and marketing teams in eight European countries, Japan and India. Headquartered in London, myThings has 100 employees, including 65 at its R&D center in Tel Aviv, and plans to hire big data and real time bidding personnel.
Viola Private Equity general partner Sami Totah has joined myThings' board. He said, "myThings is a technology leader. It has excellent management and a strong and growing market position. It has strong growth potential in the coming years. This is the right time for us to invest in the company and join its list of impressive investors, which will back its continued growth."
myThings founder and CEO Benny Arbel said, "We consider Viola's investment as a vote of confidence in the advanced advertising solutions of the company, which is growing rapidly. The investment will finance rapid development of the company's technology and the expansion into new markets."
myThings posted $10 million revenue in 2010 and higher revenue and profits in 2011. It currently operates in 14 countries, including the UK, France, Germany, Spain, the Netherlands, Italy, Russia, the US, Japan, and India.
Published by Globes [online], Israel business news - www.globes-online.com - on May 14, 2012
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