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MashLogic raises $2.5 Million in Series A funding
By siliconindia
Bangalore: MashLogic, a provider of browser plug-in, has raised $2.5 million in Series A funding led by New Enterprise Ventures. Also, New Enterprises Associates' Kittu Kolluri will join the company's board. Bessemer Venture Partners too participated in the round.
California based, Ranjit Padmanabhan Co-Founded MashLogic provides contextual information about content on web pages. The company has been distributing its plug-in on the client side.
"The company will use the funding to reach out to publishers in order to get them to embed MashLogic's technology onto their web sites," said Padmanabhan.
"Use a mouse to hover over a certain word or phrase on a web page that uses MashLogic, and a pop-up bubble that contains links to relevant articles or images about it will appear. This negates to the need to go to another site or open another tab in a web browser to find the same information, which is advantageous to publishers," explained Padmanabhan. The technology can also be used to link certain terms to the e-retailers sites like Amazon and iTunes, which will help the publishers monetizing their content.
The company had received $500,000 in angel funding from Scott Kurnit, Founder, About.com, Red Hoffman, Founder, LinkedIn, Gil Penchina, CEO, Wikia, Jeff Cliver, Founder, SoftTech VC and Bessemer Venture Partners. The company jumped into the Twitter bandwagon in the same month incorporating links to Twitter trending topics and profiles into its pop-up bubbles. The users can also tweet directly using MashLogic's plug-in.
This funding has also put a rest on the skepticism that web browser plug-ins cannot be a business.
