Herzliya-based CheckM8, which also maintains offices in Franklin Lakes, New Jersey, will be supplying Terra Lycos with technology to create focused online advertising. The deal is estimated at about half a million dollars.
Terra Lycos will be the first Internet company in the world to use the startup's rich-media ads distribution platform. The Spanish company hopes the platform will increase its revenue from advertising.
CEO and co-founder Moshe Vaknin says the company is in advanced stages of a $4 million private placement, according to a company value higher than at its last round. In August 2000, the startup raised $1 million from Media UAF and ISF at a company value of $9 million.
Vaknin and Dana Ghavami established CheckM8 in April 2000.