Content discovery engine Outbrain on Tuesday announced that it has closed a new $45 million funding round. The announcement was made via a blog post by Yaron Galai, Outbrain’s co-founder and chief executive officer. The company closed a $35 million funding round in October 2013--at the time, that brought its total funding to $99 million.
Galai cited a few milestones in his post including the acquisition of Revee, which allows Outbrain to algorithmically maximize the revenue for publishers and turn their audience development from a cost center to a profit center.
He also said that Outbrain has built a two-way chatbot technology to power content recommendations inside chat/messaging platforms, and cited the company’s partnership with CNN on this technology.
In the post, Galai said: “We [Outbrain] intend to use the new investment to continue leading on product innovation, both organically, like Outbrain for Chat, and through acquisitions like Revee.”
Outbrain will use the new funding to continue its investment in talent, accelerate Research & Development, support existing and future innovation — things like Outbrain for Chat — acquisitions like Revee’s Automatic Yield and to strengthen its global business. Outbrain has 14 offices. Outbrain said it has invested more than $75 million in R&D to date.