TollBit, a NYC-based company offering a real-time solution for digital publishers to license their content per use and get paid immediately, raised $24m in Series A funding.
Backers included Lightspeed and Section 32, with participation from Jeff Dean and Manuel Bronstein. Michael Mignano, Partner at Lightspeed, will be joining TollBit’s board.
The company intends to use the funds to expand operations and its business reach.
Co-founded by Olivia Joslin and Toshit Panigrahi, TollBit ensures AI companies can pay publishers to access the content they need in real time. It allows AI agents and applications to pay websites directly to use their content or data. TollBit empowers publishers and content owners to monitor AI bot traffic and put up a tollbooth to monetize usage. The platform makes it easy for publishers to onboard multiple AI and LLM partners in real-time.
TollBit also announced that it has secured partnerships with its first AI companies and onboarded over 200 publisher sites. Publisher partners include Penske Media Corporation, TIME, Mumsnet, Trusted Media Brands, CANDR Media Group, and ADWEEK.
FinSMEs
22/10/2024