NEW YORK, Jan. 14 /PRNewswire/ -- Tremor Media, the leading online
video advertising network, today announced that it has closed a Series B
round of funding of $11 million. The round was led by Canaan Partners and
Masthead Venture Partners, both of which led Tremor's prior round of
funding. This financing raises the total investment in the company to $19.4
million, including the previous round of $8.64 million that closed in
September of 2006.
(Logo: http://www.newscom.com/cgi-bin/prnh/20060925/NYM183LOGO )
Tremor Media will use the funds to accelerate strategic growth plans,
continue to extend its leadership position in online video advertising,
expand its product offering to advertisers and publishers with new video ad
formats and publisher tools, and enhance the flexibility of its technology
platform to quickly respond to trends in the online video ad industry.
"We've established a very successful model in the video advertising
space and have outpaced our own growth predictions, as well as the growth
of the online advertising industry in general," said Jason Glickman, CEO,
Tremor Media. "Closing this next round of funds enables us to move forward
more aggressively with our growth plans. Tremor Media will continue to be
an independent, agnostic video ad network offering the largest variety of
ad products and services to our clients."
"Tremor has not only proven its vision for the online video advertising
market, but has excelled in executing on that vision," said Warren Lee,
principal at Canaan Partners. "With the video advertising market growing
rapidly and expected to surpass $3 billion by 2010, few companies
understand the market as well as Tremor Media, which has quickly
established itself as an industry and technology leader. Canaan is thrilled
to continue its support of Tremor Media as it expands the reach of its
innovative platform to a greater number of advertisers and publishers
worldwide."
"Tremor Media has assembled a powerful mix of video advertising formats
that marketers depend on to leverage the excitement and influence of online
video," said Rich Levandov, general partner of Masthead Venture Partners.
"Their combination of technical expertise and marketing insight
successfully addresses the challenges publishers face in monetizing online
video content that we are proud to support."
Tremor Media has grown rapidly in the last year; both revenue and
publisher base have seen exponential increases. The additional funds will
enable the company to introduce new, cutting-edge products aimed at further
increasing sales revenue and network scale. Tremor Media also plans to
broaden its ad sales, publisher and technology development staff. In
addition, the company will use the funding to expand internationally in
2008 to meet the growing demand for video advertising around the world.
Currently, hundreds of leading advertisers and publishers choose Tremor
Media for its unparalleled technology, diverse ad formats, large-scale
reach and unmatched video expertise -- all under one roof. "As an
independent ad network with multiple video ad formats, Tremor Media
delivers best-of-breed solutions to our advertising clients based on their
goals, rather than forcing a single solution or format," noted Glickman.
"Publishers, as well, benefit from our increased flexibility, offering them
the right ad products based on their content and business model."
Going forward, advertisers can look forward to the development and
deployment of new ad formats, enhanced targeting and more in-depth research
and best practices based on extensive analysis of campaigns running across
the Tremor ad network. Tremor's vast scale (92 million unique monthly
users) also allows for extensive testing across the network, enabling
advertisers to garner real-time insights to increase optimization and boost
effectiveness of current and future campaigns.
Publishers can also expect a wider range of revenue sources for their
video inventory, as well as benefits from participating in higher value
inventory channels. Tremor is currently beta testing a number of new
publisher-focused tools that will be introduced in the next two quarters.
These tools are designed to provide flexibility and enhanced revenue
opportunities for publishers who seek to monetize their video inventory.
As a leader in the online advertising industry, Tremor Media actively
participates in leading industry trade organizations, such as the
Interactive Advertising Bureau (IAB) and the Online Publisher's Association
(OPA). As such, Tremor will also be using the round of funding to more
aggressively participate and drive research that benefits the entire online
advertising community. Tremor is currently a lead sponsor in the IAB's
Digital Video Ad Effectiveness Study. The company will also be the title
sponsor of the IAB's Digital Video Leadership Forum, as well as the premier
sponsor for OMMA Magazine's Video Conferences.
About Tremor Media
Tremor Media is a leading online video advertising network providing
advertisers with both in-banner and in-stream video advertising
opportunities on over 800 top-tier publisher sites with more than 92
million unique visitors per month.
Tremor also provides publishers with a full suite of products and
services to monetize streaming video and maximize ROI. Tremor's full
service solutions offer the necessary tools for advertisers and publishers
to utilize online video advertising as a powerful interactive medium. For
more information visit: http://www.tremormedia.com
Media Contact: Corey Kronengold
ckronengold@tremormedia.com
(646) 278-7417
SOURCE Tremor Media
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Related links:
http://www.tremormedia.com
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20060925/NYM183LOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Corey Kronengold, Tremor Media,
+1-646-278-7417, ckronengold@tremormedia.com
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