Ljubljana/New York, 06 November (STA) - Slovenian start-up Zemanta secured US$ 2m in new venture capital funding and appointed a new chief executive officer as it seeks to expand its business of content-based advertising.
The funding, provided by Union Square Ventures and Social Starts, will be earmarked for investments in native ad and content-based technologies and expansion of the product suite, the company said Tuesday.
Todd Sawicki, who has so far served as president, has been promoted to the chief executive post while the current CEO and co-founder Boštjan Špetič has been named chief product officer.
Zemanta, one of the most successful Slovenian start-ups, was founded by Špetič and Andraž Tori in 2007. Its tools for serving content-based ads are now being used by over 600,000 customers.