DFJ Growth Fund Leads Investment to Support Tremor Media’s Aggressive Growth
NEW YORK – Tremor Media (www.tremormedia.com), the leading video monetization and advertising company, announced it 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 allow Tremor Media to accelerate its lead in the online video advertising space and continue its rapid growth trajectory. It 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, which has the leading video advertising network with the largest audience reach, 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.”
“The online video industry is exploding and represents a major growth sector for the advertising industry. We’ve been evaluating this sector for quite some time and Tremor Media has clearly emerged as the category leader. The company has established its position through a combination of unsurpassed reach, audience targeting and ad management technology innovation that gives its blue chip advertisers tremendous buying efficiency and performance,” said Randy Glein, Managing Director of DFJ Growth Fund. “Tremor Media understands the needs of publishers and advertisers, delivering high impact media solutions that benefit the entire value chain. The company has demonstrated phenomenal growth and financial performance and has done an outstanding job anticipating the trends that are driving video advertising forward.”
In recent months Tremor Media has announced several new products and partnerships that further differentiate it in the online video marketplace. These advances include real-time audience targeting, several engagement-driven in-stream ad formats including the proprietary vChoice unit, and the first of its kind strategic partnership with DoubleVerify for third party ad verification. Read more at www.tremormedia.com.
*ComScore Video Metrix, comScore Releases February 2010 U.S. Online Video Rankings. February 2010.
About Tremor Media
Tremor Media (www.tremormedia.com), the leading online video monetization and advertising company, provides brand advertisers with in-stream and in-banner video advertising solutions on top-tier publisher sites with a combined 189.9 million uniques, reaching 90.6% of internet users. Tremor Media’s innovative video ad formats, advanced targeting, and industry-leading measurement tools enable advertisers to deliver efficient, scalable, and engaging video campaigns with measurable impact.
In addition, Tremor Media’s Acudeo® technology provides publishers with a full suite of products and services to monetize streaming video and maximize ROI. Acudeo delivers the industry’s most flexible and easy-to-use ad policy management tools and provides access to the industry’s leading revenue sources including turnkey integrations with all major video ad networks, ad serving, and video analytic technologies. With Tremor Media’s Acudeo technology, publishers can achieve maximum revenue while retaining total control and flexibility over their advertising inventory.
About Draper Fisher Jurvetson Growth Fund
Draper Fisher Jurvetson Growth Fund invests in revenue-stage technology companies that are expanding rapidly in large markets and are well-positioned to be category leaders. Draper Fisher Jurvetson is a leading venture capital firm with global presence through the DFJ Global Network of funds. DFJ’s mission is to identify, serve and provide capital for extraordinary entrepreneurs anywhere who are determined to change the world. The DFJ Network has grown to encompass over 150 venture capital professionals in more than 30 cities around the world, more than 600 portfolio companies funded, and over $6 billion of capital under management. The DFJ Network has produced such notable, industry changing companies as Athenahealth (ATHN), Baidu (BIDU), Skype (acquired by eBay), Focus Media (FMCN), DivX (DIVX), Mobile 365 (acquired by Sybase), Massive (acquired by Microsoft), EnerNOC (ENOC), FeedBurner (acquired by Google), Four11 (acquired by Yahoo), xFire (acquired by Viacom/MTV Networks), Mozy (acquired by EMC), Myfamily.com (acquired by Spectrum Equity Investors), Overture (acquired by Yahoo), Parametric (PMTC), TicketsNow (acquired by TicketMaster), and buy.at (acquired by AOL).