Taykey Announces $6 Million Funding Round and Executive Hires
The Next Web’s Martin Bryant broke the story this morning.
Following is our official press release:
TOPICAL ADVERTISING CHANNEL TAYKEY ANNOUNCES $6 MILLION IN NEW FINANCING, ADDS TO EXECUTIVE TEAM
NEW YORK – JULY 17, 2013 – Topical Advertising channel Taykey today announced that venture firm Tenaya Capital has joined existing investors Sequoia Capital, Softbank Capital, and Marker to together provide $6 million in additional financing to support the company’s rapid pace of growth. All existing investors participated in this round, the company’s third.
With over 100 campaigns run to date in 2013 and over 50% of the client base repeat clients, Taykey’s revenue is projected to exceed 8 figures, representing 300% growth over 2012. Taykey’s founder and CEO, Amit Avner, said, “As we approach profitability this year, we determined that the time was right to take a small investment to enable us to expand our personnel and fuel even more rapid growth in the near term. Our success is demonstrated by the caliber of the talent we are bringing into the company from some of the best companies in the industry.”
Taykey will immediately expand its executive ranks with two key hires.
Adam Klee joins the company as VP of Media Operations, overseeing Client Services, Technical Account Management, and Ad Operations teams for the company. Adam was most recently with Google and was VP of Client Services at AdMeld,
Joining as VP of Finance is Carmit Tevet-Kuzy, who was until recently Director of Finance at DG’s MediaMinds, where she established financial controls across US and Israeli operations.
Taykey is also hiring on its sales, engineering, ad operations, and product teams.
Of the new financing, Douglas Leone, General Partner of Sequoia Capital said, “Taykey is creating a new channel for advertising to enable brands to be agile and responsive to what their audience is paying attention to in real time. Their revenue and talent growth in the last year proves the market’s desire for topical advertising. We couldn’t be happier to continue our support.”
This brings Taykey’s total funding to date to $17 million.
Taykey (www.taykey.com), founded in 2009 and based in New York and Israel, is backed by funding from Sequoia Capital, SoftBank Capital, Marker and Tenaya Capital. Taykey’s mission is to make brands more real-time by delivering ads based on what is topical for their audiences. Taykey’s patent-pending technology harnesses deep insight into content as it emerges across various social media platforms to identify audiences’ real-time interests. Using real-time data and an innovative, patent-pending algorithm, Taykey’s media buying platform helps brands deliver advertising more effectively.