SemantiNet Recieves $3.4M Series A Funding

SemantiNet, Ltd., a startup company headquartered in Tel Aviv, has secured $3.4 million in Series A funding to support it's first global product launch planned in late September, 2008.

 

SemantiNet’s first product Semantic Web Software combines semantic web technology with crowd-sourcing, state-of-the-art cross-platform multimedia and integrated browser functionality. 

 

This first round of funding is shared by investors that include; Giza Venture Capital, a reputed investor in seed and early-stage technology companies,  Sir Ronald Cohen, a private-equity investor, Joseph 'Yossi' Vardi, one of Israel's high-tech legends, Jeff Pulver, chairman and founder of pulver.com and the co-founder of VoIP provider, Vonage (News - Alert).

 

"The announcement of our first funding round and new US office is a 'heads-up' to the high-tech community about SemantiNet prior to our official launch," said Tal Keinan, chief executive officer of SemantiNet, Ltd. 

 

Keinan said that the company and its team members are very fortunate to have an 'A-list' of venture capitalists and legendary business figures supporting SemantiNet not just with funding, but their accumulated knowledge and perspective. 

 

SemantiNet has also recently opened a new sales and marketing office at San Francisco to support its upcoming worldwide product launch. “The new US office is a key part of our upcoming launch. We need to be geographically close to the epicenter of Silicon Valley and companies such as Facebook (News - Alert), Google, Microsoft, Mozilla and Yahoo!," added Keinan.

 

"SemantiNet's core technology is now being leveraged by a unique consumer application, combining a crowd-sourcing approach with the power of semantic web reasoning," said  Oz Leave, chairman at SemantiNet.

 

Leave also said that the company is very excited to be launching later this month and are looking forward to providing its users with an information discovery assistant that is fun to use, easy-to-understand and seamlessly integrated into their browser.