U.S.-Israeli digital content firm Playbuzz raises $35 Million

Reuters News
Posted: Sep 27, 2017 8:19 AM

TEL AVIV (Reuters) - Playbuzz, a U.S.-Israeli platform for distributing online content, has raised $35 million in funding led by Viola Growth with participation from existing investors including Walt Disney Co, Saban Ventures, 83North, Carmel Ventures and Firstime.

The round brings total funds raised to $66 million.

Playbuzz said on Wednesday it will use the investment to expand its branded content business, which creates, distributes and measures advertising campaigns.

Playbuzz is used by tens of thousands of publishers such as Time, ESPN, BBC and the Daily Telegraph to create long-form, interactive articles to boost audience engagement.

It was founded in 2012 by Shaul Olmert, the son of former Israeli prime minister Ehud Olmert, and Tom Pachys.

(Reporting by Tova Cohen, Editing by Ari Rabinovitch)