Trendum raises $6m in first round Start-up Trendum today announced that it had raised $6 million in its first financing round. VNU (AEX:VNU), an international information and media company and the parent company of ACNielsen, invested $3 million as a strategic investment. Private investors invested the other $3 million.
Jacob Levy, the former general manager of Gallup Israel, and his son, Ori, founded Trendum in 2002. Trendum's first financing round was oversubscribed; the company originally planned to raise only $3 million. The Levy family had previously invested $200,000 of its own money in the company.
The technology developed by Trendum tracks and analyzes information from electronic bulletin boards, discussion groups, forums, blogs and other sources of information on the Internet on an automated basis. The technology and proprietary tools are intended for marketers, researchers and decision makers in organizations, allowing them to absorb what millions of consumers, including vast segments of the media, think about products, TV, movies, people and various subjects and events.
Trendum has sold its technology and services to giant companies, such as Time Warner Inc. (NYSE:TWX), Estee Lauder, CNN, and HBO. Trendum is breaking even financially.
Trendum chairman Itzhak Fisher said, "VNU is much more than an investor in Trendum - they are truly a strategic partner. This investment from VNU and others, plus the relationship with VNU, has catapulted Trendum to the next level. It enables us to accelerate our development of new products and access their incredible sales channels.”
Published by Globes [online], Israel business news - www.globes.co.il - on February 16, 2005