Peer39 Scores $8M, Unveils Semantic Ad Platform
It’s based on natural language processing and machine learning and the company said its algorithms enable precision targeting down to the page level – providing more relevant display ads for users than ever before. SemanticMatch is so precise it can even make its way through the tangled web of social media, the company said.
Matthew Goldstein has joined Peer39 as the company’s COO to help spearhead SemanticMatch’s debut; he hails from TACODA, where he was senior vice president, revenue operations.
Peer39 is presenting the new platform as the next stage in the evolution of interactive advertising, giving brands the kind of targeting capability contextual and behavioral just can’t match.
“Semantic targeting is widely seen to be the next stage of advertising technology, beyond contextual or behavioral. What makes Peer39 different is that ads are targeted to the meaning of pages rather than to pre-selected keywords. The problem with keywords, as is well-known, is that they can be highly irrelevant to the actual page and conversation happening,” says Amiad Solomon, CEO of Peer39. “We eliminate the errors that can plague keyword targeting and unlike other forms of online targeting, Peer39’s SemanticMatch™ does not set cookies or track user behavior.”
The company also announced the closure of an $8 million Series B round of financing with Canaan Partners as the lead investor. Dawntreader Ventures and JP Morgan also participated.
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seems like they are creating a new ‘Semantic Advertising” market very much like Tacoda did to behavioral. Good stuff.
Lots of great buzz about this company.