Minekey, a provider of online content discovery and recommendation services, today announced it has completed a $3 million Series A Round of venture capital financing led by NEA IndoUS Ventures.
“Content discovery and personalization is the new frontier of online media,” said Vinod Dham, founding partner of NEA IndoUS Ventures and acknowledged father of the Pentium microprocessor. “Minekey’s innovative technology was built in collaboration with a team of top tier scientists and engineers at IIT, the leading technology institute in India. So far, we’re delighted by the very positive customer response.”
Minekey’s content discovery service provides highly personalized article recommendations based on what someone is looking at or has read in the past. “Most companies in this space achieve results for their clients through collaborative filtering, which looks at aggregated data and wisdom of crowds rather than specific interests,” said Carla Thompson, a leading analyst at Guidewire Group. “Minekey’s robust discovery service integrates behavioral targeting, contextual matching, personalization affinity and the collective wisdom of the experts, to ensure that users get content specifically relevant to their needs.”
The company was created, said Minekey CEO Delip Andra, to solve the number one challenge facing the average internet user: information overload. “People are overwhelmed by the volume of news stories and work-related information that they have to manage everyday online, much of which is not immediately relevant to their interests or needs,” said Andra. “Minekey’s Recommendations Widget helps users discover personally relevant information they would not have found on their own.”
Minekey enables both small blogs and large media companies to deliver personalized content. “Online publishers can improve their user experience and increase page views by deploying Minekey’s content recommendations service,” said MyWire Founder and CEO Louis Borders, an early beta customer of Minekey. “It was easy to implement and increased our click-through rate measurably.”
Publishers also have the opportunity to syndicate content via the widgets deployed on Minekey’s fast-growing blog network to dramatically increase traffic and revenue.
About Minekey: Minekey enables content discovery on blogs and websites. Minekey’s Recommendations Widget delivers personalized content to users, based on what they are currently reading or have read before. The service enables publishers and bloggers to surface the most relevant content for each online user, which results in an improved user experience, greater stickiness, increased page views and higher revenue. Founded by Delip Andra in 2005, Minekey was incubated at IIT Kharagpur, India’s leading technology institute. Minekey, headquartered in Sunnyvale, CA, is funded by NEA IndoUS ventures. For more information, visit: www.minekey.com.
About NEA-IndoUS Ventures: NEA-IndoUS Ventures is a venture capital firm based out of the US and India. Co-founded by Vinod K. Dham and Vani Kola, the firm invests in businesses that leverage accelerated, long-term growth prospects and capital efficiencies. For additional information, visit www.neaiuv.com.
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