Israeli startup Namogoo raises $15 mln, brings total to $29 mln

TEL AVIV, May 1 (Reuters) - Israeli startup Namogoo said on Tuesday it raised $15 million in a funding round led by Hanaco Venture Capital, bringing total financing to $29 million.

Existing investors GreatPoint Ventures, Blumberg Capital and Inimiti Capital also participated in the round.

Namogoo said its technology eliminates unauthorized ads injected on consumer browsers, which divert customers to competitor websites and cost online businesses millions of dollars in stolen revenue each year.

The new funds will be used to boost adoption of its “customer hijacking prevention” technology and accelerate growth of its new product, digital insights, which analyses third-party services running on publisher sites, the company said. (Reporting by Tova Cohen)