Israeli audience engagement and monetization platform Jeeng has secured $5 million in new financing from Bank Mizrahi-Tefahot, the company announced Tuesday.
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The new line of credit provides working capital to fuel expansion of the company's exclusive Jeengage AI algorithm that helps publishers curate and deliver the personalized experiences subscribers expect from today's digital platforms.
As part of that expansion, the company has hired veteran IDF intelligence expert Roy Cagan as its new Chief Technology Officer and former Salesforce and Playtika data scientist Yair Even-Zohar as Chief Data Scientist.
Jeeng allows publishers to turn site visitors into logged-in subscribers without the use of a paywall, ending reliance on third-party cookies and social media platforms.
The new access to capital also comes immediately on the heels of the company's rebrand from PowerInbox to Jeeng, reflecting the company's move beyond email to include push notifications, newsreaders and other messaging channels to engage new and existing audiences with personalized content and monetization.
