Ad-Blocking Startup Namogoo Raises $15 Million

Ad-blocking SaaS startup Namogoo Technologies Ltd. announced on Tuesday the completion of a $15 million round B funding led by Hanaco Venture Capital, which is headed by Israeli-born venture capitalist Alon Lifshitz. Mr. Lifshitz will join the Namogoo board, the company said.

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Existing investors GreatPoint Ventures, Blumberg Capital, and Inimiti Capital also participated in the round. Namogoo has raised $29 million in funding to date.

Namogoo provides online businesses with a service that blocks unauthorized ads and distracting content from appearing on their websites and disrupting customer experience and engagement. Founded in 2014 and headquartered in Ra’anana, in central Israel, the company opened a Boston office in 2017. Namogoo, which employs a team of 60, more than doubled its size in 2017, according to co-founder and CEO Chemi Katz. “This significant financing round enables us to further accelerate our expansion into new markets and verticals with solutions that positively impact site performance and give brands back control of the journey they’ve designed for their customers,” Mr. Katz said in a statement.

In a statement, Namogoo also said it would use the funds to accelerate the growth of a new product, Digital Insights, which analyzes third-party services running on publisher sites, providing full visibility into their impact on site performance.