TechNation / GlassesUSA Sets New Sights

Cisco-led group offers Innovid $10m.; Bank Leumi extends reach of LeumiTech to the U.S.

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Online glasses retailer raises $12.5 million

GlassesUSA, the online discount retailer of prescription eyewear, announced Monday that it closed a $12.5-million financing led by Viola Private Equity. The funding will further GlassesUSA’s aggressive business growth and accelerate its expansion as a leading player in the growing global market of online eyewear, both B2C and B2B. Founded in 2009 by Daniel Rothman, Eldad Rothman and Roy Yamner, its top three executives, GlassesUSA operates an in-house optical lab as well as marketing, production, distribution and customer support units, and employs 70 people, most of them in Israel. GlassesUSA has ranked for the last three years as a top-500 global retail site, and was named one of the fastest-growing sites by Internet Retailer. Ayal Shiran, a partner at Viola, said it was the fund’s first investment in ecommerce market. (Inbal Orpaz)

Innovid raises $10 million from Cisco-led group

Innovid, whose software enables advertisers to deliver interactive and personalized videos on multiple devices, said on Friday that Cisco’s venture-capital arm had led a new round of investment in the company totaling $10 million. Cisco Investments was joined by original investors, including Genesis Partners, Sequoia Capital and T-Venture. Innovid said it would use the capital for research and development, and to expand product offerings. “Targeting audiences with digital video across devices, in a way that’s smart and effective, is crucial to helping advertising connect relevant content with relevant audiences,” explained Innovid CEO Zvika Netter. Founded in 2007, the New York-based startup has raised $37.6 million to date. (TheMarker Staff)

LeumiTech expands to the U.S.

Bank Leumi said Sunday it was expanding its LeumiTech operations to the United States, focusing on high-tech companies with Israeli links operating in New York and Silicon Valley. Leumi Tech offers a host of products and services, such as money transfers to Israel, currency conversions, hedging, cash management products and liquidity management, aimed at technology startups. Eitan Sapir, the head of international and technology banking for Bank Leumi USA, will spearhead LeumiTech in the U.S. Sapir is a graduate of the advanced management program at Harvard Business School, holds an M.A. in law from Bar-Ilan University, an M.B.A. from Tel Aviv University, and a B.A. in economics and philosophy from the Hebrew University of Jerusalem. (Michael Rochvarger)