US-Israeli online quiz provider Playbuzz raises $16 million

Founded by son of former pm Ehud Olmert, Shaul Olmert, Playbuzz enables distribution of content on social media and will open offices in Asia and Europe in addition to headquarters in New York.

Ynet|Published: 03.20.15 , 08:18

US-Israeli start-up Playbuzz, whose platform enables the distribution of content on social media, said on Wednesday it has raised $16 million in a financing round led by venture capital fund 83North.

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Additional funds came from Saban Capital, the investment arm of media mogul Haim Saban, as well as existing investors Carmel Ventures and FirstTime Ventures.

Playbuzz content is seen by over 80 million monthly unique visitors and has ranked the #1 most shared publisher on Facebook for four consecutive months, the statement said.

The new investment will be used to expand the company's operations and develop the variety of formats available on the platform. In addition to its New York headquarters, PlayBuzz is opening offices in Asia and Europe.

Founded in 2012 by Shaul Olmert, son of former Israeli prime minister Ehud Olmert, and Tom Pachys, Playbuzz enables publishers, bloggers, marketers and brands to connect with audiences through quizzes, lists, surveys and rankings.

“The immense popularity of social media has disrupted the digital publishing industry”, Olmert said, explaining that “Playbuzz’s free platform enables content owners to rely on its proven, ready-made content formats, and deliver content items that are ideal for their target audience, for cross platform adaptability and for social sharing."

Playbuzz has thousands of publishers and content creators who author, embed and distribute content.

83North, which started as an affiliate fund of Silicon Valley's Greylock Partners, said in January it raised a $200 million fund to invest in consumer and enterprise technology companies led by European and Israeli entrepreneurs.

Arnon Dinur, a partner at 83North, who has joined Playbuzz’s board after the investment, said his firm was "thrilled to invest in this category leader, whose meteoric rise in popularity has made it the destination of choice for publishers seeking to engage today’s always-connected, always-evolving digital audiences.”