Samsung Ventures, Translink take $12m position in YuMe
Editor ©RapidTVNews | 17-11-2011 The purple patch of TV software infrastructure provider YuMe has continued with the injection of $12 million from Samsung Ventures and Translink Capital.
New funding will be used to fuel plans to deliver video advertising technology globally across connected TVs and comes on the back of the launch of a video advertising solution designed to enable advertisers to reach consumers through LG connected TVs, Blu-ray Disc players, and Smart TV and which has already been taken up by Toyota.
The company believes that advertisers and publishers are bridging the digital media gap to reach audiences wherever they are viewing content, and viewing across the online TV, mobile, and connected TV markets is on the rise.
In particular it calculates that connected TV, is scaling rapidly with more than 35 million smart TVs will be in consumer households around the globe by the end of 2011, and nearly two-thirds of TVs sold in 2012 will be connected.
YuMe's solution for connected TVs is designed to simplify video ad serving and management functions across all connected device channels--online, mobile, and connected TV--to drive higher revenue, streamline processes, and lower operating costs. It claims to serve over 1 billion ad impressions per month on its global video ad serving infrastructure.
Explaining the rationale for his company’s investment, Stephen Lee, Principal at Samsung Ventures said: "We invest in companies that are leaders in fast-growing markets, and YuMe is a clear leader in connected TV monetisation…YuMe's video advertising technology and three-screen expertise has the potential to accelerate the industry's efforts to incorporate monetisation strategies into all connected devices, including Samsung Smart TVs."