OpenWeb team. (Photo OpenWeb)
Israeli startup OpenWeb, which offers a media readership engagement management platform, is Israel’s latest Unicorn. OpenWeb hit the coveted mark with a $150 million Series E financing round led by Insight Partners and Georgian Partners. OpenWeb has raised $220 million to date.
Startup Nation keeps on setting records. It is also adding new unicorns on seemingly a daily basis. These companies are startups that are valued at at least $1 billion.
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But being a unicorn these days is getting to be less and less of a special thing, at least in Israel. Maybe they will need to raise the definition of a unicorn from $1 billion plus to over $10 billion. Either that or they will have to start calling them rabbits instead of unicorns.
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Israel had five in October alone. For example, Deel, an Israeli startup and unicorn which deals with payroll solutions for firms with international staffs, is now worth $5.5 billion. Deel hit this valuation after raising $425 million in a Series D round of funding. Deel multiplied its value by 400% since it first hit unicorn status with a $1.25 billion valuation when it brought in $156 million in a Series C round of financing in April.
Armis, an Israeli internet of things IoT company, became a super unicorn in October with a $3.5 billion valuation. Armis hit this milestone after bringing in as much as $300 million in new funding. The news came as Armis looks forward to holding its initial public offering IPO.
Founded in 2012 by CEO Nadav Shoval and originally called Spot.IM, COO Roee Goldberg and Ishay Green, OpenWeb helps publishers gain independence from traditional social media by “fueling millions of high-quality conversations” across thousands of communities with more than one hundred million monthly users. OpenWeb boasts that its platform offers engagement and conversion funnels that turn casual readers into a community of loyal, active, registered users.
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Today, we’re entering a new phase as a company—one where we can make an even greater impact for publishers, for brands, and for the communities they host.
Read more about our Series E in our latest blog: https://t.co/BCvcUQrKwj pic.twitter.com/xpCuDTmmTl
— OpenWeb (@OpenWebHQ) November 9, 2021
OpenWeb cofounder and CEO Nadav Shoval said, “This Series E marks a big step forward in our mission to improve online conversations. The future of a sustainable open web depends on the ability to facilitate safe experiences while empowering destinations to build first-party data relationships with their audiences. We raised this round of investment to double down on our mission, and to bring those safer experiences to new verticals and new markets.”
