News Brief
Tumri Gets $15 Million In Financing
Jun 23, 2009, 7:45 AM
Display ad technology company Tumri has raised $15 million in new funding including $10 million in equity financing from Time Warner Investments and existing investors Accel Partners, Shasta Ventures and Tenaya Capital. The balance comes in the form of $5 million in debt financing from Silicon Valley Bank.
The company said it would use the capital to expand operations including customer service and support, sales and marketing as well as the continued improvement of its ad platform. Its flagship product-the AdPod--allows marketers to tailor display ad content on the fly to help boost campaign results.
Last month, Mountain View-based Tumri was selected by Yahoo as one of the first outside companies it would work with to bolster its Smart Ads program, which uses anonymous search and other user data to create personalized display ads. --Mark Walsh
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