Internet image insertion developer imonomy has closed a $400,000 round of financing in seed funding from angel investors. The company has developed internet software that analyses webpages, and automatically inserts relevant, copyright-free images to accompany the content on websites.
The Ramat Gan based start-up was founded in 2012 by CEO Oren Dror, and Amit Halawa. imonomy investors include chairman Inon Axel, former CEO of Kasamba, and Liron Rose co-founder of AfterDownload.
The company will be using the proceeds for product development, and initial marketing. imonomy plans hiring staff to increase sales activity, and expand its client base.
imonomy targets web publishers, large and small. The company's software has been engineered to enable websites with large amounts of online content to monetize the existing images on their webpages.
imonomy's visual semantic engine is used by more than 500 websites, including AOL Answers, and Articles Base.
Dror said, “The idea behind Imonomy is to solve a problem, and create extra value at the same time. We are providing a great product that will suit the publisher with a professional, content-heavy website, as well as the everyday mom blogger that needs a new creative tool to help her site stay visibly attractive.”
He added, “Searching for high quality copyright-free images that fit the content of your website is almost impossible to come by, and even if you do find some good images the time and effort required for this task makes the process totally inefficient.”
imonomy is able to offer its web application for free because it monetizes off of ads that are displayed interactively along with the images.
The start up's founders expect imonomy to be profitable by the end of the year.
Published by Globes [online], Israel business news - www.globes-online.com - on May 27, 2013
© Copyright of Globes Publisher Itonut (1983) Ltd. 2013