Busy Quarter: Innovation, Profitability and New Funding
While much of the tech/finance press is busy covering the demise of unicorns and the Silicon Valley funding winter, I’m happy to announce that Outbrain has closed a new round of funding. This adds to our last round and brings it to a total of $45M. As with most of our previous rounds, I am personally investing in this round as well.
As an investor (and hopefully speaking on behalf of our other investors…), here are some of the highlights that are exciting to us:
- The acquisition of Revee allows Outbrain, for the 1st time in the Content Discovery space, to algorithmically maximize the revenue for publishers, and turn their audience development from a cost center to a profit center.
- Outbrain has built the 1st two-way chatbot technology in the Content Discovery space for powering content recommendations inside chat/messaging platforms. We announced a partnership with CNN on this technology at Facebook’s F8 conference.
- Being profitable in Q1, which is typically the weakest quarter for companies in our space, didn’t hurt either… 😉
Outbrain created the market for Content Discovery and leads in Content Marketing, continuing to innovate for quality performance, driving results for publishers and brands. We intend to use the new investment to continue leading on product innovation, both organically, like Outbrain for Chat, and through acquisitions like Revee.
As they say – hot market or cold, it’s never a bad time for great companies to raise capital.