London, UK (PRWEB) October 19, 2008
Favy (http://www.favy.com), which matches individuals with content using smart mathematics, has raised a further round of investment from digital marketing expert Glen Conybeare, who is also joining the company. Favy's Founder CEO, Alex Kelleher, is also investing in this round.
"I liked the company so much, I not only decided to join Alex at Favy, but also to buy a piece of it," said Glen. Joining as the Commercial Director of Favy, he will initially focus on building advertising and channel partnerships. "In the current market advertisers are increasingly looking for cost effective solutions - those that maximize click through while minimizing cost per acquisition. Favy provides this by ensuring that adverts are only displayed to the users that are most likely to respond based on learned behavior in real-time.""
The idea for Favy stemmed from Alex's previous startup Touch Clarity, a company he co-founded in 2000 and which last year was sold to Omniture (NASDAQ: OMTR). There, mathematics was used to personalize content in order to deliver commercial benefits to site owners. At Favy, similar smart technologies will be employed on behalf of individual consumers - finding them the best and most interesting content. "Glen's background in both the online advertising world and consumer-facing high profile sites will give us a great advantage," Alex commented on the news, "and having worked with him before, I know we now have what it takes to deliver on what is the most ambitious but exciting business I've been involved in."
Currently in private invite-only beta, Favy uses smart mathematics to match individuals with content. It achieves these matches by learning about individuals based on a number of inputs, and then using specially trained algorithms to search, select and present interesting and useful new content. The Company is supported by an Academic Panel including several professors from UK universities in evolutionary mathematics and artificial intelligence.
Favy was founded by serial internet entrepreneur Alex Kelleher in early 2008 to place smart mathematics with the user for their benefit. Alex previously co-founded personalization software company Touch Clarity (sold in 2007), and web design agency Vivid Edge (sold in 2000).
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