Search Engine Data Warehouse Magnetic Raises $4 Million in Funding
The New York Times reports that start-up Data Warehouse Magnetic has raised $4 million in its first round of institutional funding. Previously called Domdex, the New York-based company uses data from search engines to help advertisers target their messages to specific demographic.
Similar to BlueKai, Magnetic lets ad networks, ad exchanges and demand side platforms purchase information from Magnetic’s warehouse of data to better target their ads. However, Magnetic’s data comes from search engines instead of BlueKai’s e-commerce driven data. Data from people who search for items such as “computers” is collected by Magnetic and used by computer companies, for example, to better target ads for new PCs.
The new round of investment was led by Charles River Ventures, Ron Conway and the NYC Investment Fund. The company has raised $5.25 million in funding to date; previous investors include Founder Collective and IA Capital Partners.

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