Israeli online video advertising startup Eyeview has raised $1 million in its second round of funding, with notable involvement from former Google CEO and current Chairman Eric Schmidt.
Schmidt’s investment will go a long way to raising the profile of this startup, and his interest in it shows that monetizing online videos is still an unsolved problem.
The startup, founded in 2007 by Oren Harnevo and Tal Riesenfeld, offers technology which lets online video advertisers target their messages by showing personalized ads based on location, demographic, time, weather, and browsing history. According to Israeli business news publication Globes.co.il, it plans to use its new capital to market its product in the U.S. and hire new employees.
Around half of the $1 million round comes from Schmidt’s investment firm, Innovation Endeavors, which previously put in $1M into its initial $5 million round. This brings his total involvement in the startup to $1.5 million.
Eyeview is headquartered in Burlington, Massachusetts with a main development center in Tel-Aviv, Israel. Other participants in the round included previous investors Gemini Israel Funds, Lightspeed Ventures, and Gigi Levy.