Video ad network Tremor Media reported Wednesday securing $40 million in venture capital funding led by Draper Fisher Jurvetson Growth Fund, with participation from DFJ and Triangle Peak Partners. Canaan Partners, Meritech Capital Partners, and SAP Ventures also participated in this financing. Today's round brings the total to $82 million in VC investments during the past few years. The company became profitable at the end of last year, doubling the size of its video advertising network from 2009 to 2010.
The investment could put Tremor Media on a new path to success and support for a variety of media, such as set-top boxes. The capital puts the company on a road to accelerate product development for a variety of platforms that also includes mobile, according to Jason Glickman, the company's chief executive officer. "We will aggressively build new products and features into our technology platforms, Acudeo, which powers it all," he says.
The features being built into the platform for publishers will help monetize their inventory and content. Advertisers will see features that allow them to take advantage of online video beyond standard pre-roll and untargeted campaigns. Part of the push aims to move online some of the dollars historically invested in television.
Tremor Media's network, made up of 1,700 publishers, will expand to support set-top boxes, Glickman says. Part of the road map involves working with set-top box or Wi-Fi connected television makers to support online video advertising through Internet protocol (IP) addresses. There are several ways that consumers will interact with these televisions, and Glickman believes the ad inventory will port nicely from one medium to another.
Tremor Media also plans to build in support for HTML 5, the next major revision of the HyperText Markup Language for the Web. It looks similar to Apple's iPad format, Glickman says. "As we see users move that way, we'll release innovation there as well," he says.