Israeli advertising technology startup Inneractive is on the way to closing a $15-20 million financing round, sources inform "Globes." The round is the company's fourth. Final talks with investors from the US and Asia are currently taking place. The company has raised $11.5 million since it was founded in 2007, so the current round will bring it to $25-30 million. According to the IVC venture capital database, Inneractive's past investors include Evergreen Venture Partners, businessman Idan Ofer, advertising tycoons Moshe Teumim and Mody Kidon, and others.
It is believed that the company's 2015 revenue will reach $50 million, 150% more than in 2014. Its net revenue is expected to reach $14 million, reflecting a similar growth rate.
CEO Ziv Elul and president Offer Yehudai originally founded Inneractive as an advertising solution for mobile apps. The company later expanded, offering an independentexchange for trading in advertising spaces. It worked with a collection of websites with an aggregate 630 million individual users each month. The company operates in video advertising and content-based (native) advertising.
Besides its offices in New York, the company also operates in Israel, San Francisco, and London, and is likely to open another branch in Asia.
Following its latest financing round, the company plans to expand its staff to a total of 100 employees. Inneractive was recently rated 25th on Deloitte's list of Israel's fastest growing companies.
Inneractive said it would be happyto share particulars of anyfinancing round if and when one tookplace.
Published by Globes [online], Israel business news - www.globes-online.com - on November 26, 2015
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