We mentioned some part of this back in April...in-text advertising company Kontera has received $7 million in its first round of funding. The round was led by Sequoia Capital and Lehman Brothers Venture Partners. The year-old company, which has offices in San Francisco and Israel, is competing against the likes of Intellitxt…and as regular readers know well, I vehemently oppose this kind of advertising.
Sequoia’s Israel office invested $4 million about a year ago, and Lehman Brothers joined that round by adding $3 million in June. Kontera emerged from a seven-year-old company called eZula, which had raised angel funding to produce a client-side in-text adware product.