Tumri secures $15 million in funding
ADOTAS — The rich media advertising company has been on a roll and has just added over $15 million in new capital.
The Tumri investment includes over $10 million in equity from Time Warner Investments and existing investors Accel Partners, Shasta Ventures and Tenaya Capital, as well as $5 million in debt commitment from Silicon Valley Bank. The company says it will use the money to grow its leadership position and invest in its dynamic advertising platform.
“This investment signals the confidence the investment community – particularly powerful strategic media partners like Time Warner – has in our ability to continue to innovate and deliver the next generation of advertising solutions,” Calvin Lui, president and CEO of Tumri, said in a statement. “Our goal remains steadfast in creating a tremendous company that delivers unparalleled performance and unmatched services to transform the online advertising ecosystem.”
Recently, Tumri also added former Platform-A SVP Michael Peralta as its chief revenue officer. He joined CFO Jeff McCombs, formerly Yahoo SVP for business operations, who was hired months earlier.
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