Start-up company Outbrain., which was selected by 'Globes' as the most promising start-up in 2011-2012 a month ago, announced today that it had raised $35 million in a fourth fund raising round.
Outbrain was founded by Ori Lahav and Yaron Galai while the latter was negotiating to sell his previous company, Quigo, to AOL for $325 million.
Outbrain quickly attracted the attention of investors, and $64 million have been invested in it so far, including the current round. The list of investors in the company includes Carmel Ventures and LightSpeed Venture Partners, alongside Sigma PCM (owned by Yaron Galai's father Professor Dan Galai), Zohar Gilon, the Recanati family's GlenRock, among others.
The company, which offers an Internet content recommendation engine, has grown fast, and has annual revenue in the tens of millions of dollars. Yaron Galai wrote in his blog on the company's website today that the money raised would be used to grow in different parts of the world.
Published by Globes [online], Israel business news - www.globes-online.com - on December 14, 2011
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