Michelle Clancy ©RapidTVNews | 12-09-2011
Video ad network Tremor Media has secured another $37 million in funding, which it intends to pump into fresh acquisitions and product expansion.
CEO Bill Day told AdAge that it would spend about half the funding on buying up companies that could inlcude its fellow ad networks, a pool which includes Adap.tv, BrightRoll and TidalTV. If it comes to fruition, it's a move that continues a trend for Tremor, which has already acquired rivals like ScanScout and Transpera.
In addition to growth in size, an expansion of focus is in the works as well. The company would like to focus on new lines of business like the Video Hub analytics and management platform, which it launched in July. Day said that thanks to the fresh cash injection, a full rollout of the platform beyond existing partners is expected by the end of the year.
The company, which served 640 million video ad impressions in July, won rounds of $40 million and $18 million in 2010 and 2009 respectively, bringing its total capitalisation to date to around $115 million.