Digital publishing group Maven has bought US-based content recommendation engine LiftIgniter for an undisclosed sum, enabling NTT Docomo Ventures, mobile network operator NTT Docomo’s corporate venturing arm, to exit.
Run by a holding company called Petametrics, LiftIgniter has developed a software platform that uses machine learning to make personalised recommendations to consumers about websites or products in real time.
The company had raised approximately $8.3m in funding, NTT Docomo Ventures contributing to a $6.4m series A round led by venture capital firm Storm Ventures in 2017.
The series A also featured Rincon Venture Partners, Revel Partners and various angel investors. LiftIgniter’s earlier backers included Khosla Ventures, YCombinator, SV Angel, Initialized Capital and Data Collective.
James Heckman, Maven’s founder and CEO, said: “Our team’s mission remains unchanged since the early days of digital media, which is to empower great journalism with great technology, material distribution and monetisation.
“LiftIgniter enables and enhances all three of these focus areas. Its powerful personalisation technology, together with Maven’s leading edge technology stack, creates a product offering for publishers unmatched in the industry.”
