Got Funds? YuMe Scores $25 million
ADOTAS – YuMe has a new admirer in Menlo Ventures, which led a round of funding that stuffed $25 million into the video ad tech company’s pockets. Existing investors Accel Partners, BV Capital, DAG Ventures and Khosla Ventures joined in the cash-raising and Menlo Managing Director will join YuMe’s board of directors.
The funds will used to expand the footpring of video ad management platform ACE, according to YuMe CEO Michael Mathieu. The company served an average of 30 million in-stream ads per day in December 2009. With 1.2 billion in–stream ads per month month according to comScore, YuMe is the biggest of the video ad network and has the potential to reach 76 million unique viewers monthly.
Last month the company brought on board award-winning former CBS Interactive executive Scott McLernon as its chief revenue officer. In addition, YuMe introduced interactive options to the end of video ads as the latest in a slew of offerings.
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