Total amount raised
$393 Millions
Latest funding date
10/1/2022
Location
OpenWeb has successfully raised significant funding across multiple rounds, with its latest Series F round closing on October 27, 2022. The company has attracted a diverse group of 21 investors, including notable names like Lion Investment Partners and Georgian.
Keep reading to explore the intricacies of OpenWeb's fundraising journey and the investors backing this innovative platform.
What Is OpenWeb?
OpenWeb, founded on March 4, 2015, in New York, New York, is a social engagement platform that partners with publishers and brands to build audience relationships. The company leverages AI and machine learning to foster healthy dialogue and create engaged communities.
Founded by Ishay Green, Nadav Shoval, and Roee Goldberg, OpenWeb works with over 700 top-tier publishers and hosts 100 million active users each month. The platform aims to democratize and improve online conversations by incentivizing healthy dialogue and reducing toxicity.
With a team of 251-500 employees, OpenWeb is dedicated to creating trusted spaces for online communities to thrive, addressing the crisis of online toxicity, and building a more open and healthier web.
How Much Funding Has OpenWeb Raised?
- Series A
- Amount Raised: $13M
- Date: August 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial platform and expand the team.
- Series C
- Amount Raised: $25M
- Date: November 2017
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance platform capabilities.
- Series D
- Amount Raised: $25M
- Date: April 2019
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve technology infrastructure.
- Venture Round
- Amount Raised: $10M
- Date: March 2021
- Lead Investors: Entrée Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support product development and strategic acquisitions.
- Series E
- Amount Raised: $150M
- Date: November 2021
- Lead Investors: Georgian, Insight Partners
- Valuation at Round: $1B
- Motivation Behind the Round: To scale operations and enhance service offerings.
- Series F
- Amount Raised: $170M
- Date: October 2022
- Lead Investors: Georgian
- Valuation at Round: $1.5B
- Motivation Behind the Round: To support expansion, acquisitions, and technological advancements.
Total Amount Raised: $393M. Current Valuation: $1.5B.
Key Investors
- Georgian
- Details: Georgian is a growth equity firm that invests in high-growth technology companies. They focus on companies that leverage applied artificial intelligence, trust, and conversational AI.
- Investment Focus Areas: High-growth technology companies, applied artificial intelligence, conversational AI.
- Notable Investments: Shopify, FreshBooks, Kaltura.
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm investing in growth-stage technology and software companies. They have a strong track record of helping companies scale and achieve significant growth.
- Investment Focus Areas: Technology, software, growth-stage companies.
- Notable Investments: Twitter, Wix, DocuSign.
- Entrée Capital
- Details: Entrée Capital is a venture capital firm that provides multi-stage funding to innovative startups. They have a global presence and a diverse portfolio.
- Investment Focus Areas: Early-stage companies, growth-stage companies, technology.
- Notable Investments: Monday.com, Riskified, Stash.
- The New York Times
- Details: The New York Times is a major media company known for its influential journalism and digital innovation. They have invested in technology to enhance their digital capabilities.
- Investment Focus Areas: Media, publishing, digital innovation.
- Notable Investments: Wirecutter, Audm.
- Samsung Next
- Details: Samsung Next is the investment division of Samsung Electronics, focusing on early-stage technology startups. They aim to foster innovation and support disruptive technologies.
- Investment Focus Areas: Digital media, advertising, early-stage technology startups.
- Notable Investments: SmartThings, Whisk.
What's Next for OpenWeb?
OpenWeb stands at the cusp of significant growth opportunities, driven by its recent $170 million Series F funding and a valuation of $1.5 billion. The company is poised to expand its engagement and ad platform, integrating the capabilities of its recent acquisition, ADYOULIKE. This expansion could attract more publishers and advertisers, enhancing OpenWeb's market presence and user base.
Future fundraising opportunities seem promising, especially as OpenWeb continues to grow and innovate. The company may seek additional capital to support further acquisitions and technological advancements. However, challenges such as integrating new acquisitions, maintaining high-quality user engagement, and navigating competition from other platforms could pose hurdles. Ensuring data privacy and adapting to industry trends will be crucial for sustained success.
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