DoubleRecall Inc. announced it has received $1.6 million in funding from YCombinator, Start Fund, SV Angel, Digital Garage, Itochu Ventures, Mentor Equity and TEEC Angel. The startup launched its fundraising efforts at YCombinator Demo Day in August, and ended 2011 with revenue of $300,000.
DoubleRecall uses advertiser’s messages to confirm users are human and to let them access premium content. Typically this consists of a phrase specified by an advertiser, and users must type in two highlighted words before they can proceed.
The company positions its offering as an alternative to paywalls and banner ads for monetizing content, citing an average click-through rate of 3.6 percent and 11 times higher brand awareness than banners. It also includes options for tweeting and sharing in other ways.
DoubleRecall is headquartered in New York City with a presence in Japan and Europe.
“We are excited to get this vote of confidence from a group of excellent, knowledgeable investors,” said Robert Farazin, CEO of DoubleRecall. “Our preliminary campaigns prove that DoubleRecall offers a simple, innovative way to turn your content into a revenue generator, making the whole content ecosystem happier. Advertisers know what they are paying for, publishers monetize better and readers don’t have to fight a paywall to access their favorite content.”
Press release – http://doublerecall.com/press.html
Photo by Flickr user yomanimus/David Beyer, used under Creative Commons license