Tremor Video Gains $37M in Funding Round
Online advertising leader will use the funds to grow in the U.S. and European markets.
Independent online video advertising company Tremor Video, formerly Tremor Media, has closed a $39 million funding round, which was led by W Capital Partners of New York City.
Tremor wasn't specific is how it would use the funding, only saying that it will aggressively increase its leadership in the United States while expanding in other markets. Tremor created a European office in September, 2010.
Tremor has been on a buying spree this year, acquiring both ScanScout and Transpera. Its efforts have paid off, as comScore finds that Tremor is consistently one of the leaders in streaming ads online.
The financing round included participation from Keating Capital, Canaan Partners, Draper Fisher Jurvetson Growth,General Catalyst Partners, Meritech Capital Partners, Singapore's EDBI, Time Warner, and SAP Ventures.
"We invest in companies that are leaders in rapidly growing markets, and this is no exception," says Bob Migliorino, managing director of W Capital Partners. "Tremor Video's performance in the fastest growing segment in online media, combined with Video Hub's game-changing technology, makes us extremely happy to be working with them."
Tremor launched its Video Hub this year, giving advertisers real-time campaign performance monitoring.
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While it's not yet profitable, the outlook is strong for Tremor, which sees big growth coming to online video advertising.