Well ... that was quick. Contextual browser add-on MashLogic has raised $2.5 million in its first round of funding, per an SEC filing. The Menlo Park, Calif.-based startup picked up $500,000 in an angel round from investors including About.com founder Scott Kurnit and Bessemer Venture Partners in June.
MashLogic didn’t immediately respond to our request for details on the source of the new money, but Krishna “Kittu” Kolluri, a partner at New Enterprise Associates, is now listed as a board member, as is Bessemer Venture Partners’ Dave Cowan.
The startup’s content aggregation and linking technology pulls in relevant articles and images from around the web, so that readers linger on the host site longer. The increase in time spent and possibly page-views, is likely MashLogic’s value proposition for publishers—in which case, one of the most obvious (though not exactly ingenious) business models, would be an ad-rev share.
By Tameka Kee