New York Times invests in Israeli firm OpenWeb at $1b valuation
The New York Times Company was among a series of investors who participated in a $150 million Series E funding round for Israeli company OpenWeb, the developer of online community engagement and content solutions for publishers and brands worldwide.
The investment was led by New York-based global private equity and venture capital firm Insight Partners and Canadian investment firm Georgian Partners, valuing OpenWeb at over $1 billion and making it Israel’s newest “unicorn” — a privately held startup valued at over $1 billion — according to the announcement Wednesday. Other investors included US-Israeli venture firm Entrée Capital, Japan’s Dentsu, and Samsung Next, as well as Prof. Scott Galloway, an author and business professor at New York University who has joined OpenWeb’s Board of Directors.
Founded in 2012, OpenWeb says it builds technologies that allow publishers to foster and engage with online communities while maintaining civil discourse, increasing user retention, and reducing toxicity. The company’s software OpenWebOS helps “publishers host the engaging discussions the public is starving for, right beside the stories everyone wants to talk about,” OpenWeb says.
Read More: Times of Israel