Tel Aviv based start-up myThings, which develops advertisement products for e-commerce websites, has just completed a $6 million third round fund raising round. The fund raising round was led by T-Venture, the venture capital arm of Deutsche Telecom, and was joined by some of the existing company investors – the venture capital fun Carmel Ventures, Excel Partners, GP Bullound and Dot Corp.
myThings’ personalized retargeting advertising technology allows e-commerce websites to present to web-surfers who’ve visited the website and left without making a purchase an advertisement generated automatically based on actions comitted on the retail website. According to company spokespeople, they are increasing by 100% the rate of return vistis, most of which end with a transaction. This technology is an advanced form of Retargeting, in which web users who visit an e-commerce website and did not purchase anything are exposed to advertisement by that website while surfing other websites.
According to the leading reaserch and tracking firm Comscore, this technology achieves much better results than other form of targeted advertising, contextual advertising or behavioral targeting advertisement. Additionally, myThings does not make use of users private detials for its focused advertising, but is based on statiscal analysis of annoynoums information which represents user activity at the e-commerce website.
myThings already counts among its clients such firms as: Orange, Price Minister, Karen Millen, Etam, PIXMania and more.
The prevailing presence of Deutsche Telecom in the digital media market hides a great potential for future co-operation with myThings. Websites owned by Deutsche Telecom see over 27 million unique visits a month, and the group is ranked at number one in exposure to web surfers in Germany, as stated by web-ranking firm AGOF. Among the companies owned by Deutsche Telecom is Interactive-Media, the leading German firm for marketing quality digital media.
Frank Bechar, a senior executive at Deutsche Telecom, said: “What impressed us with myThings is the company’s technology, which leads to a significat rise in the number of transactions made by users of e-commerce websites who previously visited without making a transaction. The company works in the focused advertising market, which is quickly growing in Europe. We were also very much impressed with the company’s crew.”
Benny Arbel, CEO of myThings, said: “We see T-Ventures joining our investor group as a vote of confidence and trust in our technology and business model. Purchase oriented focused advertising is driving the growth of the electronic commerce market. myThings’ technology allows marketers online to address web users in a way which focuses on their purchase intents, and thus improves the effectiveness of marketing campaigns. The money raised in our latest round will be used for support in research activity and development in order to increase sales in the European sales and marketing market.”
Translated by Itai Rosenbaum
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