Web video ad network Tremor Media has raised $18 million in series C financing.
Meritech Capital Partners led the round. Previous investors include Canaan Partners, Masthead Venture Partners, and European Founders Fund. Meritech’s Mike Gordon will join Tremor’s board.
NYC-based Tremor says it grew revenues in triple digits in 2008 for the third year in a row. It will use the money to build out its ad network and invest in video technology, including Acudeo, its video ad platform.
“According to comScore’s Video Metrix, the company has also grown its video ad network to the 4th largest streaming aggregator behind only YouTube, MySpace, and Yahoo!,” the company said in a release.
Tremor raised a total $19.4 million in series A and B financing, bringing its total funding to more than $37 million.