Loomia Gets $5 Million Dollar First Round For Content Recommendation

This story was written by Joseph Weisenthal.
Loomia, the maker of the SeenThis app for social content discovery, has raised a $5 million first round from Asset Management Company, as well as strategic investors Peacock Equity (GE-NBC), and Telefnica Capital S.A.U. It previously raised $1 million in seed money says News.com. The service lets content owners recommend items to their users based of friends in their social networks, like Facebook. Basically it's a more social spin on the standard "people who liked this also liked this" feature. Publishers using the service include The Wall Street Journal Online, NBC.com, CNET (NSDQ: CNET) Networks and Audible (NSDQ: ADBL). Loomia also targets e-commerce firms. The company offers a free, ad-supported version of its service for anyone, in addition to premium versions that involve a split of incremental generated revenue. Funding will go towards expanding internationally and building out its platform. It competes with Aggregate Knowledge, which raised a $5 million round last year. Release.


By Joseph Weisenthal