Deals

Former Shopping.com CEO Ciporin starts Peer39, new "natural language" ad start-up

(Updated after talking with the company and confirming the investment)

Peer39, a secretive online ad marketplace start-up in New York boasting that it will boost conversion rates “dramatically,” has raised $3 million from New York-based Dawntreader Ventures, chief executive Amiad Solomon said.

Former Shopping.com CEO Dan Ciporin is a seed investor, and is on the board.

On its site, the company says it is founded by some “natural language and machine learning experts,” suggesting it attempts to bring a new type of technology to advertising, just as some companies like Powerset are trying to bring natural language technology to search results. Solomon confirmed that, adding that he hopes to launch the product later this year.

Dawntreader partner Ned Carlson led the deal for Dawntreader and principal Dan Ahn is also working on it.