February 14, 2011 11:30 ET
Outbrain Raises $11 Million in Series C Funding
Financing to Help Scale Operations and Continue Expansion Into New Markets
NEW YORK, NY--(Marketwire - February 14, 2011) - Outbrain, the leading content discovery platform, today announced its third round of funding of $11 million, bringing its total financing to $29 million. Previous investors Carmel Ventures, Gemini Israel Funds, GlenRock Israel, Rhodium and Lightspeed Venture Partners all returned for this round.
Through its recent acquisition of Surphace Inc. (formerly Sphere), Outbrain has increased its traction in the marketplace, adding several top-tier online publishers including AllThingsD, AOL, Lonely Planet and Los Angeles Times to its growing list of partners and creating the category leader in content discovery. The company now serves more than 2 billion page views each month, helping millions of readers discover new and compelling content.
This infusion of capital will enable Outbrain to accelerate its growth and further scale its operations, expanding its business development and sales teams in the United States while continuing to grow its footprint in Israel and across Europe. Additionally, Outbrain will further invest in its already best-in-class recommendation technologies.
"We have spent the last few years refining our business to serve readers the most compelling content and providing our clients with world-class service," said Yaron Galai, co-founder and CEO of Outbrain. "The recent acquisition of Surphace along with this new round of funding allows us to accelerate our technology advancements, further scale our client base and hire top talent in order to keep up with market demands."
Outbrain provides online publishers with a service for recommending content links to increase page views, generate revenue and enhance the user experience. The Outbrain platform enables publishers to better monetize their content pages by leveraging recommended links to high quality 3rd party content. The core Outbrain service is free for publishers and can be easily installed here: http://www.outbrain.com/getwidget.
Outbrain (www.outbrain.com) is the leading content recommendation platform, reaching a highly engaged audience through distribution on top publisher sites, including USA Today, iVillage, Boston.com, Chicago Tribune, Newsweek, TheStreet, The Boston Globe and Slate. Outbrain provides publishers a service for recommended links to increase traffic and generate revenue, and marketers a way to their distribute content alongside publisher's own editorial recommendations. Outbrain acquired content recommendation platform Surphace (formerly known as Sphere) in February 2011. Founded in 2006, the company is headquartered in New York with R&D in Netanya, Israel, and is backed by Carmel Ventures, Gemini Israel Funds, GlenRock Israel, Rhodium and Lightspeed Venture Partners.