Tremor Media Raises $11 million to Accelerate Growth and International Expansion

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.
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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

Corey Kronengold, Tremor Media, +1-646-278-7417, ckronengold@tremormedia.com