Peer39 Raises $10.5 Million in Series C Financing

Funding to fuel market leadership and semantic technology innovation

New York (June 2, 2009) Peer39 (www.Peer39.com), the leading online semantic advertising company, today announced that it has closed a $10.5 million round in Series C funding. Evergreen Venture Partners led the round, joining existing investors including Canaan Partners, Dawntreader Ventures, Silicon Valley Bank, and JP Morgan, bringing the total financing raised by the company to over $22 million to date.

Peer39 will use the funding to accelerate business development and sales, as well as further development of its semantic advertising technology platform, which enables publishers to increase revenues from their web sites.

"By working with the world's leading publishers, Peer39 has become the market leader in semantic advertising solutions. We are delighted to welcome Evergreen Venture Partners as a new financial partner," said Amiad Solomon, CEO of Peer39. "With this financial commitment, we will expand our US sales presence and continue to develop our proprietary technology, thus helping publishers get higher returns from their online content while enabling advertisers to confidently protect their brands."

"Semantics is the next wave of the Internet and semantic targeting and advertising is the first major implementation of semantic technologies on the web. Peer39 is the market leader in this new and exciting market," said Erez Shachar of Evergreen Venture Partners, who will be joining the Board of Directors. "After extensive research, seeing the technology in action, and talking to Peer39’s impressive list of top-tier publishers we became convinced that Peer39 presents by far the most exciting opportunity of companies in the semantics space. I am proud to join Peer39 as investor and member of the board of directors."

"Since our initial investment in Peer39 in 2007, the company has achieved market leadership by building cutting-edge technology, a compelling business model, and a stellar executive team,” said Warren Lee, Venture Partner, Canaan Partners. “We are excited to continue supporting Peer39 as it establishes itself as the leader of semantic advertising technologies."