Tremor Network Receives $8.4 Million
Rich media and online video ad company Tremor Network has completed its latest round of series A financing, bringing in $8.4 million in capital. Most of the investment came from Masthead Venture Partners and Canaan Partners and emphasized Tremor’s growth as a video ad network. Tremor provides in-banner and in-stream ads on more than 300 sites. Partners from both financing firms will sit on Tremor’s board.
“Our success over the last few years as a rich media and video advertising network has enabled Tremor to generate significant cash flow to operate with very little outside capital,” said Tremor CEO Jason Glickman in a statement. “This investment will enable us to dramatically increase our future growth in the video advertising space and strengthen our position as the market leader.”
Tremor will use the $8.4 million to expand its video ad network, which uses a proprietary ad insertion technology. Randy Kilgore, former president of advertising for Dow Jones Online, also joins Tremor as the ad company’s new Chief Revenue Officer.
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