Contextual ad network Tumri will take a $10 million investment from Time Warner Investments as well as previous investors Accel Partners, Shasta Ventures and Tenaya Capital.
Silicon Valley Bank will also loan the startup $5 million.
Tumri’s big push these days is for premium advertisers — the kind Time Warner (TWX) would want to see on its magazines’ Web sites.
In a release, Tumri says it will use the money to build out its sales and marketing teams, as well as its global presence.
Tumri’s now raised $31.5 million total — a lot for an ad network, we think.
Executives include former AOL SVP Michael Peralta and Yahoo exec Jeff McCombs.
Here’s the release:
Tumri, the leading provider of dynamic and intelligent display advertising solutions, today announced that it has added over $15 million in new capital. The capital 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. Proceeds from the investment will help the company continue to grow its leadership position and expand all areas of the business including: global service and support, sales and marketing, infrastructure development, international expansion and continued innovation of its industry-leading dynamic intelligent advertising platform.
“Tumri’s unique approach to dynamic online display advertising is a true innovation amongst the next generation of display ad platform solutions,” said Rachel Lam, senior vice president and group managing director of Time Warner Investments. “Tumri has all the ingredients to redefine the online display advertising market. With Tumri’s outstanding executive team and its proven, scalable products that perform impressively for advertisers and partners, we believe Tumri is a clear leader in this exciting space.”
Tumri’s recent C-level hires and Yahoo! Smart Ads partnership, combined with the impressive capital investment, solidifies the company’s ability to extend its leadership position. The Tumri platform is enabling global brands to marry the high reach and branding impact of display with ROI results on par with search.
“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,” said Calvin Lui, president and CEO of Tumri. “Our goal remains steadfast in creating a tremendous company that delivers unparalleled performance and unmatched services to transform the online advertising ecosystem.”
As the investments arm of one of the world’s largest media and entertainment companies with an objective of expansion into key strategic markets, Time Warner’s involvement in the deal substantiates the impact Tumri has made in display advertising. The financial support from Tumri’s investors will result in improved and enhanced services and capabilities for the Tumri solution – a dynamic display advertising platform that has already drawn the attention and adoption of the world’s leading brand marketers and publishers.
The Tumri platform seamlessly deconstructs ad creatives into core sub-components (i.e. brand logo, product image, offer/price, call to action, etc.), then allows advertisers to adjust each sub-component by targeting or performance parameters. The Tumri AdPod marries advanced targeting capabilities with a dynamic, interactive presentation layer, enabling advertisers to craft highly targeted marketing messages to consumers on-the-fly.
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