U.S.-Israeli Startup Teridion Raises $15 Million for Faster Internet

TechNation: Three Israeli universities among top 50 for alumni entrepreneurs; Internet ad spending grew over High Holy Days period as TV dropped.

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Until now the Israeli government has lagged behind other advanced countries in adopting its services to the Internet era.
Illustration.Credit: AP

U.S.-Israeli startup Teridion raises $15 million for faster Internet

Teridion, whose technology helps companies speed up their Internet performance, said yesterday it had raised $15 million from a group of investors led by the Singapore-based corporate venture investor Singtel Innov8. Existing investors JVP and Magma also participated in the round. The U.S.-Israeli startup also announced the commercial launch of its Global Cloud Network, after trials with 15 users, that the company said can provide up to 20 times the performance by creating what it calls a “congestion map of the Internet” to find the best possible path between a corporate site and an end user. “The Internet is an incredibly powerful tool, but until now, we have struggled to take full advantage of its capabilities. It’s still common for us to fall victim to slow response times and volatile connections,” said Teridion CEO and founder Elad Rave. The company has raised $20 million since it was founded in 2013. Its headquarters are in San Francisco, with research and development in Petah Tikva. (Amitai Ziv) 

Three Israeli universities among top 50 for alumni entrepreneurs

Three Israeli universities placed among the world’s top 50 for the amount of venture capital their graduates have raised for startups. The ranking, made by the research firm Pitchbook Data, ranked Tel Aviv University at No. 9, with 250 alumni raising a combined $1.75 billion for 204 companies between 2010 and July 2015. It was the top-ranked university outside the United States for entrepreneurship. Pitchbook Data said. Haifa’s Technion Israel Institute of Technology took 20th place, with 187 grads raising $1.18 billion for 161 startups, while and the Hebrew University of Jerusalem ranked 39, with 116 alumni raising a total of $1 billion for 102 startups. Globally, some 3,000 graduates of the top 10 universities raised a combined $33.5 billion in venture capital, with Stanford University, Massachusetts Institute of Technology and the University of California, Berkeley in the top three places. (Inbal Orpaz)

Internet ad spending grew over High Holy Days period as TV dropped

It wasn’t a cheerful holiday season for video advertising this year, with total spending down 3% from last year to $154.6 million shekels, according to market researcher Yifat. But while television advertising was down 6%, Internet video advertising grew a sharp 38%. Still, the Internet has a long way to go to catch up with TV: Total web spending was just 16.1 million shekels ($4.09 million) , compared to 138.5 million shekels for TV advertising. Newspaper ad spending was down 2%. The High Holy Days, which began September 13 and ends October 5 in Israel, are a key advertising period, but big advertisers like food retailer Super-Sol and Strauss Group slashed spending this year by 30% and 40%, respectively. Procter & Gamble boosted spending 60% to 8 million shekels. (Nati Tucker)

Israeli tops Fortune’s young entrepreneur list

Israel-born Adam Neumann topped Fortune magazine’s list of the world’s most influential people in business under the age of 40. Neumann, 36, is co-founder and CEO of WeWork, which provides shared office spaces for startups, small businesses and a wide variety of Internet-age entrepreneurs. WeWork was established by Neumann and his business partner Miguel McKelvey in 2010. After a $400-million funding round from J.P. Morgan and other major investors, the company is valued at a whopping $10 billion. Neumann, Fortune wrote, “is bringing startup culture to Big Business.” It currently has 54 locations in the United States, Europe and Israel, providing “perk-filled, keg-friendly communal workspaces [that] have attracted more than 30,000 members across the globe.”  Fortune’s “40 Under 40” ranks “the most influential young people in business,” covering high tech,  health care, autos, finance, food, real estate, comedy, and even ultimate fighting.(TheMarker Staff)