After almost a year and a half of no investments in Israeli startups, Ouriel Ohayon’s LGI Lab (a joint venture between Lightspeed Venture Partners and Gemini Israel Funds) announced an undisclosed investment round in EyeView, which was recently featured on VC Cafe. Gigi Levy, the CEO of 888.com joined the round as well.
Eyeview produces flash video tutorials that help companies increase conversions through the use of media (TC says 20% increased conversion). Danny Cohen described the story of the company as the typicall Israeli startup story. The company was founded in November 2007 by four Israeli friends that knew each other from college and the military (Oren Harnevo, Tal Riesenfeld, Yaniv Nitzan and Gal Barnea), while they were all living in different locations abroad. The idea came up and the four ended up winning the HBS Business Plan Competition – three out the four have since then relocated to Israel to lower their costs and engage with one of Israel’s advantages – a large pool of skilled (and relatively cheaper) developers.
With a list of initial clients including Yahoo, eBay, Nokia and others, the startup may have a chance to get some traction. Some of the tutorial’s more interesting features includes multi language subtitles.