Video content recommendation co Taboola Inc. has raised $15 million, just seven months after raising $10 million, and bringing the total amount raised to $40 million. Pitango Venture Capital, a new investor, led the latest financing round, alongside current investors Evergreen Venture Partners, WGI Group, and Marker.
Taboola was founded in 2007 by CEO Adam Singolda. Headquartered in New York City and with R&D offices in Tel Aviv, it has developed EngageRank, a real-time video recommendation tool, which analyzes actions and interactions of users as they watch videos, selecting the best algorithm to generate relevant video suggestions for that user. Taboola claims that its technology serves 1.5 billion recommendations per day and 200 million users are exposed to its recommendations per month. These figures are considerably larger than the ones it mentioned a few months ago. Singola said today that the company's revenue rose 7.5-fold in 2012, although it has not yet reached the break-even point.
Taboola's business model targets a weak point in the money chain of online content by creating revenue from video content. The company's revenue comes from access to users' content from the recommendations it offers. It also operates a virtual arena where content providers can air content on Taboola premium sites.
Published by Globes [online], Israel business news - www.globes-online.com - on February 19, 2013
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