Toronto-based Chango announced today the completion of their $1.4 million Series A financing with the addition of Metamorphic Ventures and Geoff Judge.
Chango's search targeted advertising product promises to help website publishers better monetize their sites by differentiating between search traffic and regular loyal readers. Visitors arriving from search enginres are shown highly relevant advertising based on their past search queries whereas direct navigation regular readers are shown only content they have come to expect from the publisher.
Today's financing builds on Chango's existing investor syndicate that includes iNovia Capital and Extreme Venture Partners. Chango completed a $750K series A financing in October 2009 led by iNovia with participation from Extreme Venture Partners.
Chango was founded by serial entrepreneur Chris Sukornyk.
Sukornyk co-founded The X-Stream Network which became Europe’s fastest growing Free ISP. X-Stream was sold in March 2000 to LibertySurf for US $75 Million. More recently, Mr. Sukornyk co-found Bubbleshare, a consumer focused photo sharing web application which was sold to Kaboose and is now defunct. In addition, Mr. Sukornyk founded Fivelimes, a green focused social-shopping site that was recently sold to Avid Life Media.