Peer39 Raises $10.5 Million in Series C Financing from Canaan, Dawntreader Ventures, Silicon Valley Bank, and JP Morgan, bringing the total financing raised by the company to over $22 million to date.
Founded in 2006, Peer39 is creating the next generation online advertising and content monetization platform. Based on natural language processing and machine learning, its patented algorithms increase the value on online content by understanding page meaning and sentiment, matching the most relevant/effective brand safe display and text advertising. Headquartered in NYC, Peer39 maintains an R&D center in Israel, conducting primary research in semantic web technologies. Peer39 was named by MIT’s Technology Review as one of “Ten Web Startups to Watch” and included on AlwaysOn East 100 Top Private Companies List in 2009. Visit www.Peer39.com.
"Semantics is the next wave of the Internet and semantic targeting and advertising is the first major implementation of semantic technologies on the web. Peer39 is the market leader in this new and exciting market," said Erez Shachar of Evergreen Venture Partners, who will be joining the Board of Directors. "After extensive research, seeing the technology in action, and talking to Peer39’s impressive list of top-tier publishers we became convinced that Peer39 presents by far the most exciting opportunity of companies in the semantics space. I am proud to join Peer39 as investor and member of the board of directors."