Minekey Secures $3 Million in Series A Funding from NEA IndoUS Ventures

Company Provides Content Recommendation Services to Blogs and Websites

    SUNNYVALE, Calif., Aug. 2 /PRNewswire/ -- Minekey, a provider of online
 content discovery and recommendation services, today announced it has
 completed a $3 million Series A Round of venture capital financing led by
 NEA IndoUS Ventures.
     "Content discovery and personalization is the new frontier of online
 media," said Vinod Dham, founding partner of NEA IndoUS Ventures and
 acknowledged father of the Pentium microprocessor. "Minekey's innovative
 technology was built in collaboration with a team of top tier scientists
 and engineers at IIT, the leading technology institute in India. So far,
 we're delighted by the very positive customer response."
     Minekey's content discovery service provides highly personalized
 article recommendations based on what someone is looking at or has read in
 the past. "Most companies in this space achieve results for their clients
 through collaborative filtering, which looks at aggregated data and wisdom
 of crowds rather than specific interests," said Carla Thompson, a leading
 analyst at Guidewire Group. "Minekey's robust discovery service integrates
 behavioral targeting, contextual matching, personalization affinity and the
 collective wisdom of the experts, to ensure that users get content
 specifically relevant to their needs."
     The company was created, said Minekey CEO Delip Andra, to solve the
 number one challenge facing the average internet user: information
 overload. "People are overwhelmed by the volume of news stories and
 work-related information that they have to manage everyday online, much of
 which is not immediately relevant to their interests or needs," said Andra.
 "Minekey's Recommendations Widget helps users discover personally relevant
 information they would not have found on their own."
     Minekey enables both small blogs and large media companies to deliver
 personalized content. "Online publishers can improve their user experience
 and increase page views by deploying Minekey's content recommendations
 service," said MyWire Founder and CEO Louis Borders, an early beta customer
 of Minekey. "It was easy to implement and increased our click-through rate
 measurably."
     Publishers also have the opportunity to syndicate content via the
 widgets deployed on Minekey's fast-growing blog network to dramatically
 increase traffic and revenue.
     About Minekey
     Minekey enables content discovery on blogs and websites. Minekey's
 Recommendations Widget delivers personalized content to users, based on
 what they are currently reading or have read before. The service enables
 publishers and bloggers to surface the most relevant content for each
 online user, which results in an improved user experience, greater
 stickiness, increased page views and higher revenue. Founded by Delip Andra
 in 2005, Minekey was incubated at IIT Kharagpur, India's leading technology
 institute. Minekey, headquartered in Sunnyvale, CA, is funded by NEA IndoUS
 ventures. For more information, visit: http://www.minekey.com.
     About NEA-IndoUS Ventures
     NEA-IndoUS Ventures is a venture capital firm based out of the US and
 India. Co-founded by Vinod K. Dham and Vani Kola, the firm invests in
 businesses that leverage accelerated, long-term growth prospects and
 capital efficiencies. For additional information, visit
 http://www.neaiuv.com.
 
 

SOURCE Minekey