Union Square invests $2m in Zemanta

The fresh funding will be used by Zemanta to hire new staff for its sales and marketing team, as well as expand its platform by investing in content-based ad technology.

In conjunction with the funding round, Zemanta has announced that former company president Todd Sawicki is to become the new CEO. Former CEO and co-founder Boštjan Špetič will become chief product officer.

Previous funding
In September 2008, Union Square and Eden Ventures injected $3m into Zemanta. According to Eden, the two firms then provided further funding to the company in 2010.

Company
Founded in 2007, Zemanta has bases in Ljubljana, in Slovenia, and New York, USA. The company currently employs 30 staff.

Zemanta develops content discovery and audience development tools for publishers. Its products are designed to allow publishers to extend their content to new readers.

The company has a publisher client base of 600,000. Clients include Associated Press, Forbes and VentureBeat, as well as blogs on blogging sites WordPress and TypePad.

People
AdMoment was founded by chief product officer Boštjan Špetič and CTO Andraž Tori. Todd Sawicki is the company's new CEO. Fred Wilson is a managing partner at Union Square.

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• Topics
• CEE
• Expansion
• Technology
• Slovenia