Israeli cybersecurity company Namogoo today announced the completion of a $40 million Series C financing round led by Oak HC/FT and with the participation of existing investors GreatPoint Ventures, Blumberg Capital, and Hanaco Ventures. With the latest financing round, the Herzliya based company has raised $69 million to date. Oak HC/FT partner Matt Streisfeld will join Namogoo’s board.
The funding will be used to further expand Namogoo’s client-side platform offerings - starting with the launch of its Customer Privacy Protection solution. The solution detects and mitigates against customer privacy risks associated with 3rd- and 4th-party vendors running on company websites and applications.
Namogoo’s client-side technology gives online enterprises a new generation of visibility, efficiency, and governance over their websites and applications ecosystem, enabling superior digital customer experiences and business results.
Founded in 2014 by Chemi Katz and Ohad Greenshpan, the company’s platform provides online businesses control over their customers’ journey by preventing unauthorized ad injections from diverting online customers to competitors and uncovering all privacy and compliance risks emanating from 3rd and 4th party vendors.
"With businesses investing more than ever in technologies to optimize their website, improve functionality, and tailor their users’ experience, ensuring that these digital investments are delivered as intended and free of risks and disruptions has never been more challenging," said Chemi Katz, Co-Founder and CEO of Namogoo. "This significant financing round enables us to further invest in the growth of our global team and expand to new markets and geographies, helping us fulfill our vision of eliminating Digital Chaos and providing enterprises unprecedented control of their digital properties."
"Namogoo has made a significant mark within the eCommerce industry by helping Fortune 500 brands win back stolen online revenue and gain control of their customer experience," said Oak HC/FT Partner Matt Streisfeld. "Namogoo’s platform is essential for any enterprise serving consumers online, and we’re looking forward to supporting the company as they maintain their momentum and scale to the next level."
Over the past year, Namogoo has grown its customer base by 150%. The company’s platform is used by more than 150 leading brands in over 38 countries, including Tumi, Asics, Argos, Dollar Shave Club, Tailored Brands, Upwork, and others. In the first half of 2019 alone, Namogoo has enabled its clients to recoup more than $575 million in online revenue.
To support its growing roster of clients, Namogoo has expanded its staff to over 100 employees in Israel and Boston as well as opening a new office in London. This trend continues into 2020 in which Namogoo is going to double its staff across all departments such as R&D, Sales, Marketing, Customer Success and Product.
Published by Globes, Israel business news - en.globes.co.il - on October 31, 2019
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