Video advertising network, Tremor Media, has raised $40 million in funding led by Draper Fisher Jurvetson Growth Fund with participation from DFJ and Triangle Peak Partners. Existing investors including Canaan Partners, Meritech Capital Partners, and SAP Ventures also participated significantly in this financing.
The capital will primarily be used to invest in R&D to bolster Acudeo®, its leading technology platform, with new solutions for both advertisers and publishers, and to drive expansion into other media channels where digital video advertising will grow significantly.
Tremor Media has more than doubled the size of its network from 2009 to 2010. The company became profitable in 2009, demonstrating revenue gains that exceeded more than twice the rate of growth of the overall online video market.
“Tremor Media is at the epicenter of video advertising. We have created the preferred technology and media platform for video advertisers, publishers and consumers and we are continuing to build long-term solutions that will meet the demand of the rapidly evolving digital video landscape,” said Jason Glickman, CEO, Tremor Media. “The next 12-18 months are critical for online video’s growth as massive advertising budgets shift to online video and consumption of online video rises. This infusion of capital will allow us to accelerate our lead in the marketplace and fuel our continued innovation. It is a validation of our company’s success and indicative of the enormous opportunity for the digital video space.”
Location: USA, New York, NY