Corporate-backed IdInvest Partners has provided series A funding for the online advertising technology company.
France-based online advertising technology provider Twenga has raised €10m ($11m) in series A capital from IdInvest Partners, the private equity firm backed by insurance conglomerate Allianz.
IdInvest closed a $157m fund backed by limited partners including Allianz, media group Lagardère, recruitment firm Up Group and state-backed fund Bpifrance last month.
Twenga originally launched as an e-commerce search engine in 2006 but pivoted in 2012 to develop an advertising platform, enabling e-commerce companies to close more sales by predicting customers’ actions.
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