DuckDuckGo raises $10 million with backing from Canadian pension fund - Technical.ly Philly

Business

Aug. 23, 2018 12:43 pm

DuckDuckGo raises $10 million with backing from Canadian pension fund

It's the largest round to date raised by the Paoli, Pa.-based company, which has seen interest rise in its privacy-minded search engine.
At DuckDuckGo’s offices in Chester County.

At DuckDuckGo's offices in Chester County.

(Courtesy photo)

The venture capital arm of a Canadian pension fund just led a $10-million round into Paoli, Pa.-based DuckDuckGo, the privacy-minded search engine founded 10 years ago by Gabriel Weinberg.

Per Weinberg, who’s also an angel investor, the funds will help grow the company’s current headcount of 51 and increase its global footprint.

“We are hiring globally, better tuning our search engine results for local markets, and expanding the channels we use to market DuckDuckGo to have more of a global focus,” Weinberg told the Inquirer.

As part of the deal, OMERS Ventures will have a non-controlling share in DuckDuckGo, which says it has been profitable since 2014 and had only taken on $3 million in institutional capital prior to this round.

The company has made a name for itself by adhering to a tracker-free privacy standard, blocking ad-tracking cookies and keeping users search history private. So how does the company make money? There’s no secret formula. Similar to other websites and social networking sites, DuckDuckGo runs ads.

Increased concerns over privacy — particularly around scandals like the NSA surveillance program — have been good for business. Around the time when Facebook’s Cambridge Analytica leak came around, the search engine logged its all-time high daily search record, at an impressive 25.5 million searches.

Companies: DuckDuckGo
-30-
CONTRIBUTE TO THE
JOURNALISM FUND

Already a contributor? Sign in here
Connect with companies from the Technical.ly community
New call-to-action

Advertisement

Here’s what Philly googled in 2017

This Saturday: Help DuckDuckGo make ‘instant answers’ for stuff you care about

DuckDuckGo on CNBC: We’ve grown 600% since NSA surveillance news broke

SPONSORED

Philly

How Relay is helping enterprise clients get proactive about customer engagement

Philadelphia

Perpay

UX Designer

Apply Now

Chesterbrook, PA

Deacom

Inside Sales Representative

Apply Now

Horsham, PA

Penn Mutual

Product Owner/Business Transformation Specialist

Apply Now

Can Boxter really boost your site’s web traffic by 274%?

Why reputation manager Brand.com had to manage its own

Get Apple’s new iOS 8 today and you can use DuckDuckGo in Safari

SPONSORED

Philly

These hiring companies want to meet you at NET/WORK Suburbs

Center City

Inspire

Member Experience Specialist

Apply Now

Philadelphia, PA

Perpay

Frontend Engineer

Apply Now

Philadelphia

Perpay

Senior Data Scientist

Apply Now

Sign-up for daily news updates from Technical.ly Philadelphia

Do NOT follow this link or you will be banned from the site!