Tech Nation

Zooz closes $12m round; Jfrog raises $7m; OurCrowd raises $60m in equity; Toonimo raise $2.5m.

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Israeli high-tech needs its funding (illustration).
Israeli high-tech needs its funding (illustration).Credit: Bloomberg

Zooz closes $12 million round for smart payment technology
Zooz, a provider of smart payment technology, said on Wednesday it has closed a $12 million round of investment, led by Blumberg Capital. Existing investors including XSeed Capital, Lool Ventures and Rhodium, as well as new investors Access Industries and Camp One Ventures also participated. The company said it will use the funding to continue creating technology, expand operations and open new offices. Founded in 2010, Zooz started out as a mobile payments system, but later added a more comprehensive set of tools, including a web service. Zooz enhances the existing payment infrastructure of retailers, such as Ikea and Groupon who the startup counts as customers, by enabling them to accept payments efficiently and flexibly for competitive rates both online and in-store. Its technology connects retailers to multiple payment methods. (Reuters)

Jfrog raises $7 million from VMware
Jfrog, whose technology is used to simplify software management and distribution for big companies, has raised $7 million in an investment round led by the U.S. company VMware. Gemini Israel Ventures, which participated in the round as a follow-on investment in the company, confirmed the news in a Tweet on Wednesday. The Wall Street Journal reported that the round valued Jfrog at $50 million. JFrog’s Artifactory Binary Repository Manager and Bintray, which helps enterprises distribute software to customers automatically, counts Netflix, Titter, Apple, LinkedIn and Amazon as customers. The proceeds will be used to release a commercial version of Bintray and to open offices in Europe and Australia. CEO Shlomi Ben Haim, who founded the company in 2008 with Yoav Landman, told the WSJ that Jfrog wants to go public, although “we still have to prove ourselves.” Revenue is growing at about 40% a year. It employs about 60 people in offices in office in Netanya and in Santa Clara, California. (TheMarker).

Ourcrowd says it has raised $60m for investment in startups
OurCrowd, an equity crowdfunding platform for accredited investors, said on Tuesday that it had raised $60 million to date over its platform for 46 portfolio companies. Twenty of these companies have already raised more than $1 million each in investments, and four companies have raised over $3 million through the platform. “These numbers demonstrate that our model works and can be effectively used for major funding rounds,” CEO Jon Medved said. “The fact that OurCrowd has deployed more money for our companies than our Silicon Valley competitors proves that we are indeed at the forefront of equity crowdfunding innovation.” OurCrowd selects companies in which it invests its own capital and invites its accredited membership to coinvest at least $10,000 per deal. Earlier this year, OurCrowd announced the closing of a $25 million Series B funding round. (TheMarker)

Animation startup Toonimo raises $2.5 million from Lux Partners
Toonimo, a startup based in New York and Tel Aviv that enables websites to create custom animations, said on Tuesday it raised $2.5 million from a group led by Tuvia Barak of Lux Partners. Toonimo’s animations, which can be created in as little of 48 hours, help users to navigate sites and fill in forms, encouraging them to continue shopping. “With this financing, we are excited to be able to make world-class multimedia capabilities both accessible and customizable for a wide range of website owners, improving their customers’ on-site experiences and boosting their business results,” said CEO Ohad Rozen. Rozen is a founder of Wilocity, which was recently acquired by Qualcomm. Toonimo Chief Marketing Officer Jake Levant told the website TechCrunch the company’s goal is to add more personalization over time and eventually to become “the multimedia layer” for sites to add and test different types of content, not just animation. (TheMarker)

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