MyStrands has secured $24 million in its Series B2 round of funding. Spanish bank BBVA led the funding along with existing investor Debaeque. The last round of funding closed in June at $25 million, bringing the total capital raised to date to $55 million. You can read the full details of the anouncement at MyStrands blog.
In the past four years, MyStrands has developed a scalable Personalized Discovery Platform and a Social Recommender Engine. The Social Recommender Engine provides real-time personalized recommendations of products and services through computers, mobile phones, and other Internet-connected devices; and takes into account that taste is context-sensitive and evolves over time. These developments have already resulted in sales of $12 million during 2007. The company will use the new funds to go to the next level of product development. MyStrands recently launched MyStrands.tv, a personalised music tv channel and MyStrands Social Player was featured in the recent Nokia marketing campaign.
MyStrands recently hired some great new people and is busy building a great global team of developers. The company is headquartered in Corvallis, Oregon, and opened offices in San Francisco, New York, Seattle and Washington DC in the US; Barcelona, Madrid, Valencia and Zaragoza in Spain; Helsinki in Finland or Sao Paulo in Brazil.
Hi Rudy, wow, quite some steam behind them!
Cheers,
Martin