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YuMe Receives $10 Million in Financing

Video advertising technology company YuMe received $10 million in financing from WestSummit Capital, a China-based investment firm, closing out a $22 million strategic round that was initially announced last November. The round was led by Samsung Ventures and also included Translink Capital.

YuMe founder Jayant Kadambi said the funding would be used to expand into connected devices, a growth area for the company. “We are using it to expand our Connected TV business across OEMs and publishers globally. We are continuing to expand our business out of our Chennai development labs, as we see tremendous media business growth opportunities across all of Asia,” Kadambi wrote.

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