Index joined existing investors Carmel Ventures and Lightspeed Venture Partners in the round, which will enable the company to accelerate its product line while further investing in business development and global expansion, the firm said in a statement.
Outbrain’s content recommendations are viewed more than 3.5 billion times each month, generating more than 200 million monthly clicks to content across a range of publisher sites on the web. The platform’s roster includes CNN, Fox News, Future Publishing, Hearst, Hachette Filipacchi Media, IPC, Mashable, MSNBC, Reuters UK, Sky News, Slate, Trinity Mirror and Ziff Davis.
The company also works with several key brands and agencies including Digitas, Mindshare, P&G, Allstate and American Express.
Dominique Vidal, a partner at Index Ventures who will also join the company’s board of directors, said, “Outbrain presents a solution to a problem that online media has been facing since the Internet brought content to the web. Their continued success and vision makes the company an attractive addition to Index’s portfolio. It is clear that the company mission to help users discover great content is their top priority, which is why Outbrain has cultivated a leading position in the market.”
Yaron Galai, CEO and co-founder of Outbrain, added, “We’ve achieved exceptional milestones this year, from the acquisition of Surphace out of AOL to the launch of our European offices in London, France and Germany to the roll-out of Outbrain for mobile and Outbrain for video. Having established a leadership position in all these areas, we are now poised to bring great content to audiences across the US, Europe and the entire world.”
Last month Index closed its growth capital vehicle with commitments of €500m. The fund will make equity investments in fast-growing companies, providing not only additional capital for investment, but also access to the firm’s international platform to enable growth. It will also enable companies to expand abroad.
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