28    Nov 20120 comments

MyHeritage raises $25 million of new funding

We’re proud to announce today that we have closed a new round of financing and raised $25 million to boost MyHeritage’s operations in the years ahead and allow MyHeritage to continue to grow and provide better services to our users. The funding round was led by Bessemer Venture Partners (BVP), with existing investors Index Ventures, Accel Partners and Hasso Plattner Ventures also participating.

BVP is a global venture capital firm with offices in Silicon Valley, Cambridge, Mass., New York, India and Israel. BVP delivers the broadest platform in venture capital spanning across industries, geographies, generations and stages of company growth. From LinkedIn to Pinterest, Staples to Skype, VeriSign to Yelp, BVP has helped incubate and support companies that have anchored tidal shifts in the economy. More than 100 BVP-funded companies have gone public on exchanges in North America, Europe, and Asia.

The new investment round will be used by MyHeritage to boost growth of our historical content services, expand commercial operations worldwide, acquire significant record collections from Europe and roll out global crowd-sourcing projects.

BVP Partner, Adam Fisher

BVP Partner, Adam Fisher, who has led this investment, is joining the MyHeritage Board of Directors. Adam has become an avid genealogist during the period in which he contemplated this investment. As he investigated the company and field of genealogy, he has become drawn into this world and absorbed by it. Adam’s own family tree has grown to 2,500 people and we are very happy to welcome him on board. We are also thankful for the trust of our existing investors and look forward to a bright future.

Lastly, we wish to thank you, the users of MyHeritage, who have made an investment in us by entrusting us with your data, time and efforts. We will maintain our commitment to you and continue to build better tools to make family history even more enjoyable and accessible for all.

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