Taboola Raises $117M in Series E; Fidelity Leads the Round
Content recommendation specialist Taboola announced yesterday that it has taken in $117 million in a series E funding round. Fidelity Management and Research Company led the round, with participation from existing investors Marker LLC and Steadfast Capital. Advance Publications, Comcast Ventures, Carlo De Benedetti, Groupe Arnault, and Yahoo Japan also joined as new investors.
This marks Taboola's biggest funding round by far. To date, the company has raised $157 million in funding. It closed a $15 million Series D round in February 2013.
Taboola plans to use the money to further growth in the content discovery market. It will focus on creating innovative technology, expanding across the globe, and creating a full-page personalized experience.
At the moment, Taboola delivers over 200 billion content recommendations to over 550 million users each month, and counts sites such as USA Today, Fox Sports, and The Weather Channel as customers.
Taboola was founded in 2007, first focusing on offering personalized video recommendations, then moving to editorial content. It notes that "a significant portion" of its revenue comes from mobile devices.
"This round will help us fuel growth, and launch next-generation personalization technology to further connect consumers with information they may like and never knew existed," says Taboola founder and CEO Adam Singolda.
Prizma recommends videos by looking at the viewer's needs and motivations. The company has taken in $3 million in funding.
Viewers can now indicate which recommendations they don't want to see, banning similar content on any Taboola-driven site.
By partnering with Taboola for recommendations, Hearst U.K. properties have seen an increase in traffic.
With a string of large funding rounds and a stable of high-profile customers, Taboola looking for further growth.