YuMe Secures $!2M, Earmarked For Connected TV Expansion
Video ad network YuMe just received another strategic investment of $12 million from Samsung Ventures, the venture capital arm of the Samsung Group, along with Translink Capital.
Jayant Kadambi, YuMe co-founder and CEO, said Wednesday that the new funding will be used to expand the company’s footprint in the connected TV space here and abroad.
Ranked as one of the top video ad networks online, publishers such as MSN, MSNBC Digital Network, IDG Entertainment and Glam Media use YuMe's ACE ad management platform.
“YuMe’s video advertising technology and three-screen expertise has the potential to accelerate the industry’s efforts to incorporate monetization strategies into all connected devices, including Samsung Smart TVs,” Stephen Lee, principal at Samsung Ventures, said Wednesday.
With an eye on emerging platforms, YuMe recently acquired mobile video ad company Appealing Media.
With Appealing Media, YuMe got an impressive client list, including ESPN, IPC Media, Bauer Media and Universal McCann. For these and other clients, Appealing Media has executed campaigns across native apps, touch Web and mobile Web properties.
Today, over 70% of the U.S. online audience watches video online. Forrester expects the number of streams consumed to more than double by 2013. Driving this growth is an explosion of video content from users, professional studios and marketers.
Last year, YuMe closed a $25 million round of funding, led by new investor Menlo Ventures. Existing investors Accel Partners, BV Capital, DAG Ventures and Khosla Ventures also participated in the round.
The company recently launched YuMe Europe and its first office in London. Like its domestic counterpart, YuMe Europe is expected to provide advertisers and publishers with the platform to manage advertising campaigns across all screens, including PCs, mobile, connected TVs.