In the israeli ad-blocking company, Namogoo will be rewarded with $40 million in private equity funding

JERUSALEM (Reuters) – israel’s cyber security and ad-blocking to boot Namogoo said on Thursday it raised $40 million in a private funding round led by Oak HC/FT, bringing the total fund to date to $69 million.

Existing investors, GreatPoint Ventures, Blumberg Capital, and Hanaco Ventures, also participated in the round.

The funding will be used for the expansion of the Namogoo platform offerings, starting with the introduction of the protection of the privacy of the customer, a solution that detects and mitigates against the privacy of the customer and the risks associated with third-and fourth-party vendors to run on the company’s web sites and applications, he said.

Namogoo said that over the past year its customer base has grown by 150%, while the platform is being used by more than 150 brands in more than 38 countries.

It is noted that, in the first half of 2019 only, Namogoo has enabled its clients to earn more than $575 million in online sales.

The company has over 100 employees and offices in Israel, London, and Boston, and plans to double the workforce by the year 2020.

Reporting by Steven Scheer

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