Calcalist’s Meir Orbach reported today that Israeli start-up Peer39 is firing 10 employees. If one of our readers happens to be founding a new start-up and is in need of software engineers specializing in the internet and/or semantic search for smart advertising online, five of those let go belong to the company’s local development center, headed by Eran Utmazgin.
In a phone interview with StartUpMania, Utmazgin asked to clarify that “this is not a situation where the company had $500,000 left in the back. We’re in a financially sound situation, and are experiencing growth. The cut-backs are a part of an optimization procedure as the company adjusts to changing market conditions. This a choice we’re making to be active and not passive.”
Peer39, founded in 2006, recently received a venture capital investment of $10.5 million from the Evergreen Venture Partners and other investors. Prior to that, it raised over 10 million additional dollars from Canaan Partners, J. P. Morgan and Silicon Valley Bank. The company was founded by Nir Bareket, who is currently acting as a technological advisor to Ginger Software, and Amiad Solomon, who is the company’s CEO.
Peer39’s lead scientist is Moshe Kopel – a professor of mathematics and computer science from Bar Ilan University. He specializes in Natural Langauge Processing and different techniques necessary to turn a random text file tho one who’s various components can be connected to a semantic map.
The company’s CTO is Jonathan Schler, who joined Peer39 a year ago, after serving as VP of research and development of Nielsen Online and development manager in Israeli semantic start-up Clear Forest, which was sold to Reuters.
The company holds offices in New York with a development center in Petach Tikva.
Translated by Itai Rosenbaum
It‘s quite in here! Why not leave a response?