Semantic Web Company SemantiNet Raises $3.4 Million Series A

Posted Sep 5, 2008

SemantiNet is a semantic web startup company that has raised $3.4 million in Series A funding. The company is currently in stealth mode, but plans on launching later this month. The funding was led by Giza Ventures. Other investors include Dr. Joseph “Yossi” Vardi (ICQ founder), Jeff Pulver (Vonage co-founder), and Sir Ronald Cohen (Apax Partners).

“SemantiNet’s core technology is now being leveraged by a unique consumer
application, combining a crowd-sourcing approach with the power of semantic
web reasoning,” stated Oz Leave, Chairman of SemantiNet. “We
are very excited to be launching later this month and are looking forward to
providing our users with an information discovery assistant that is fun to
use, easy-to-understand and seamlessly integrated into their browser.”

SemantiNet has R&D operations based in Tel Aviv, Israel. Some of the R&D efforts are provided by engineers in the Israeli Army R&D unit. The company also has offices in San Francisco, Calif. where they have a sales and marketing division. The announcement was made official in a press release.