PERSONALISED RETARGETING PROVIDER MYTHINGS SECURES $6 MILLION IN FUNDING LED BY T-VENTURE
- Created on Tuesday, 23 November 2010 00:00
Funding will enable accelerating the growth in revenue and market share myThings is currently experiencing in the UK, France, Germany and other key European markets
myThings, an innovator in personalised retargeting, announced today that it has secured $6 million in third round of funding led by T-Venture, the venture capital company of Deutsche Telekom, with participation of Accel Partners, Carmel Ventures, Dot Corp and GP Bullhound.
myThings’ retargeting technology is enabling Europe’s leading online retailers and marketers, including Price Minister, Republic, PIXMania, Karen Millen, Etam and Orange, to benefit from increases in return conversion rates in excess of 500%. The company’s proprietary optimisation technology facilitates serving personally tailored ads, generated in real-time based on a range of performance-enhancing variables. myThings continues to win business and market share since introducing the product to a wider market in 2009.
Retargeting, an online advertising solution where a retailer’s website visitors are retargeted while they browse the Internet, has proven to outperform other leading online ad tactics including contextual and behavioral targeting according to research from comScore. myThings only uses non-personally identifiable information to perform its retargeting service.
Deutsche Telekom’s strong presence in digital media offers a lot of potential for cooperation with myThings. Deutsche Telekom’s web properties rank number one with 27 million monthly unique users according to AGOF and it owns InteractiveMedia, the leading quality marketer of digital media in Germany.
“What impressed us with myThings is the company’s technology which generates significant increases in return conversation rates in a retargeting market which is growing exponentially in Europe, as well as the responsiveness of the entire myThings team” said Frank Bachér, Managing Director of InteractiveMedia.
myThings is one of the fastest growing companies in the sector in Europe and T-Venture and the other investors, including Accel Partners, Carmel Ventures, Dot Corp and GP BullHound, strongly support myThings growth strategy and vision of a more efficient online advertising market for advertisers and publishing websites alike.
“We appreciate the vote of confidence for our technology and business model represented by the addition of T-Venture to our strong existing investors in this round of funding,” said Benny Arbel, CEO and founder of myThings. “With user intent driving the growth in online marketing, myThings technology is enabling our clients to retarget based on user intent and improve the performance of their campaigns.”
“This round of funding will be used to scale our sales, marketing and R&D operations throughout Europe, to meet client and market growth,” added Arbel.