Video ad network Tremor Media has brought in $40 million in VC in a funding round that will allow the company to continue expanding its ad platform, do some R&D on other products and, potentially, allow it to stick a toe into the M&A pool.
The funding round, led by Draper Fisher Jurvetson Growth Fund, DFJ and Triangle Peak Partners, with existing investors including Canaan Partners, Meritech Capital Partners and SAP Ventures also participating, brings the company's VC total to $82 million since it launched in 2006.
Tremor, one of the largest player in the video ad market, is likely to look at expanding its product to three screens, taking advantage of the exploding mobile market and positioning itself to take advantage of TV as well.
"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," said Jason Glickman, CEO, Tremor Media. "This infusion of capital will allow us to accelerate our lead in the marketplace and fuel our continued innovation."
- see this release
- see this Wall Street Journal article
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