Recommendations Startup Taboola Raises $117M
Israeli-owned content recommendations startup Taboola has raised $117 million in a Series E round led by Fidelity Investments, with participation from a group of investors that include Comcast Ventures, Advance Publications (which owns Conde Nast), and Yahoo Japan.
Founded in 2007 and headquartered in New York, Taboola powers an engine that serves sponsored and non-sponsored article and video recommendations at the bottom of pages on websites. Its network, which combines to reach 550 million uniques per month (with mobile accounting for half, according to Taboola), includes publishers like USA Today, NBC News, Business Insider, Fox Sports, and Weather Channel.
Last year, Taboola made $200 million in revenue, and the company has been profitable for six consecutive quarters, according to Taboola’s founder and CEO Adam Singolda.
With the new funding, the company hopes to invest in product development and international expansion. “There are many ways in which we can help publishers drive monetization and user engagement, with strong opportunities around video and personalization,” Singolda said to The Wall Street Journal.
Taboola’s chief competitors include Outbrain (which is used by VideoInk), and social platforms like Facebook and YouTube, as well as other tech publishers like AOL and Yahoo. (Of note, last fall Outrain filed for a possible IPO.)
The Series E round increases Taboola’s total amount raised to $157 million. Other investors in the round include existing backers Marker LLC and Steadfast Capital, as well as new investors Carlo de Benedetti and Groupe Arnault.Tags: advance publications, Comcast Ventures, Content Recommendations, Fidelity Investments, financing, Series E, Taboola, Video Discovery