Monday, May 23, 2011
Online video ad co Eyeview raises $1m from Google CEO
This is Eric Schmidt's second investment in Eyeview, bringing his investment to $1.5 million.
Online video advertising company Eyeview Digital Ltd. has raised $1 million from outgoing Google CEO Eric Schmidt through his Innovation Endeavors, Gemini Israel Funds, Lightspeed Ventures, and Gigi Levy.
This is Schmidt's second investment in Eyeview, and brings his investment to $1.5 million. The current round brings the amount raised by Eyeview to $6 million. The company will use the proceeds to market its product in the US and to hire more employees.
Eyeview CEO Oren Harnevo and CTO Tal Riesenfeld founded the company in 2007. The company's technology enables advertisers to create targeted video ads in real time, so Internet users will be exposed to different versions of the same video ad, based on geographic and demographic criteria, as well as each user's surfing history.
Eyeview already collaborates with AdapTV Ltd., AOL Inc. (NYSE: AOL), TidalTV Inc. and Collective Media Inc. Johnson & Johnson (NYSE: JNJ) and Bed, Bath and Beyond are two companies that have used Eyeview's solution. Eyeview is headquartered in New York and has an R&D center in Tel Aviv
Har-Nevo's brother, Ran Harnevo founded 5min Media Ltd., which was sold to AOL for $65 million a few months ago.
Innovation Endeavors has also invested $1 million in another Israeli start-up Any.Do, in a joint investment with Genesis Partners, Blomberg Capital, and Palantir Technologies founder Joe Lonsdale.
Eyeview develops technology solutions that enable advertisers and agencies to create and target personalized video ads. We have both a passion for online video advertising and a vision for what it can be in the digital age. We aspire to bring the most comprehensive, advanced video advertising technology solution to the market.
Our technology enhances brand quality video ads by adding dynamic compositions that are updated and targeted in real-time. With Eyeview’s technology, advertisers provide a more personal, relevant, local and brand effective video experience.
Founded in 2007, Eyeview has its headquarters in New York City and its R&D center in Tel Aviv. Our team brings with a wealth of experience from leading companies in the industry such as Google, YouTube, 888.com, HP, Kontera and many more. We are backed by Gemini Israel Funds, LightSpeed Venture Partners and Innovation Endeavors, as well as by private investors.