Tremor Media Raises $18 Million in Series C Round

Tremor Media today announced it has closed an $18 million round of series C funding. The investment will enable the company to further build its video ad network and increase investments in advanced video technologies including the Acudeo video ad monetization platform.

This latest round of funding – bringing total VC investment to approximately $40 mil to date – further validates Tremor Media’s strategy to focus on aggressively penetrating the $70 billion television advertising market and accelerating the shift of TV advertising budgets into online video. To help facilitate the translation between offline and online media buying, the company recently announced a partnership with comScore to provide GRPs for web video, similar to the GRP measurement for traditional TV.

Meritech Capital Partners led the funding round along with participation from Tremor Media’s existing investors. The series C round of funding follows Tremor Media’s third consecutive year of triple-digit revenue growth. 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!

“Tremor Media has proven itself to be an innovator in the video advertising marketplace, and has developed highly successful solutions to address the video industry’s most challenging pain points,” said Mike Gordon, Managing Director of Meritech Capital Partners, who will join Tremor Media’s board of directors. “As leaders in the high-growth area of online video, Tremor Media represents an ideal late-stage capital investment with enormous opportunity for growth.”

“Since our initial investment in Tremor in 2006, the company has exceeded all of the goals that we have set for it and has built an experienced, world-class management team,” said Warren Lee, Venture Partner, Canaan Partners.

Ed Note: I am the Sr. Director of Corporate Communications for Tremor Media