Taboola Raises $15M in Series D Funding Round
With a string of large funding rounds and a stable of high-profile customers, Taboola looking for further growth.
Taboola, a video recommendation company based in New York City, announced that it has taken in an additional $15 million thanks to a Series D funding round. Pitango VC led the round, while Evergreen Venture Partners, WGI Group, and Marker also participated.
Funding is coming in at a fast rate for Taboola. Only six months ago, Marker led a $10 million funding round. In August, 2011, Taboola raised $9 million in a Series B round led by Crescent Point Group.
The Series D funds will go toward driving growth, expanding internationally, and creating the next generation of content distribution, says Taboola founder and CEO Adam Singolda.
While Taboola is known for its video recommendation service, which lets publishers deliver personalized recommendations to viewers and bid to get their videos recommended on top sites, the company now offers article and slideshow recommendations, as well. Taboola currently delivers 1.5 billion recommendations each day. Clients include Time.com, The New York Times, Fox Broadcasting, and USA Today.
"Pitango's success in media investments and its vision to build world-leading companies makes it a great partner for Taboola," Singolda says. "It's been an incredible year for Taboola. We've grown 7.5x in revenue, launched a successful mobile business, and brought on board key executives to join the team."
Video recommendation service will use the money to spur engineering, sales, and marketing teams.
By partnering with Taboola for recommendations, Hearst U.K. properties have seen an increase in traffic.
Viewers can now indicate which recommendations they don't want to see, banning similar content on any Taboola-driven site.