myThings raises USD6m for ad targeting

Targeted online advertising

myThings, a provider of targeted online advertising services, has raised USD6m in a round led by Deutsche Telecom’s investment arm, T-Venture. The money will be used by myThings to expand its research and development in Europe. The new cash brings the company’s total funding to USD19m. myThings focuses on “retargeting,” meaning it provides advertisers with a learning algorithm that keeps track of which ads don’t work. Adverts that don’t generate any clicks are automatically removed from display. In Europe, myThings is used by Price Minister, one of the largest European e-commerce sites, and a number of other retailers.

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