Tumri Inc., a Santa Clara, Calif.-based provider of contextual online advertising solutions, has raised $15 million in third-round funding. Time Warner Investments led the $10 million equity tranche, and was joined by return backers Accel Partners, Shasta Ventures and Tenaya Capital. A $5 million debt commitment was secured from Silicon Valley Bank. Tumri has now raised around $30 million.
Tumri, the leading provider of dynamic and intelligent display advertising solutions, today announced that it has added over $15 million in new capital. The capital investment includes over $10 million in equity from Time Warner Investments and existing investors Accel Partners, Shasta Ventures and Tenaya Capital, as well as $5 million in debt commitment from Silicon Valley Bank. Proceeds from the investment will help the company continue to grow its leadership position and expand all areas of the business including: global service and support, sales and marketing, infrastructure development, international expansion and continued innovation of its industry-leading dynamic intelligent advertising platform.
“Tumri’s unique approach to dynamic online display advertising is a true innovation amongst the next generation of display ad platform solutions,” said Rachel Lam, senior vice president and group managing director of Time Warner Investments. “Tumri has all the ingredients to redefine the online display advertising market. With Tumri’s outstanding executive team and its proven, scalable products that perform impressively for advertisers and partners, we believe Tumri is a clear leader in this exciting space.”
Tumri’s recent C-level hires and Yahoo! Smart Ads partnership, combined with the impressive capital investment, solidifies the company’s ability to extend its leadership position. The Tumri platform is enabling global brands to marry the high reach and branding impact of display with ROI results on par with search.
“This investment signals the confidence the investment community – particularly powerful strategic media partners like Time Warner – has in our ability to continue to innovate and deliver the next generation of advertising solutions,” said Calvin Lui, president and CEO of Tumri. “Our goal remains steadfast in creating a tremendous company that delivers unparalleled performance and unmatched services to transform the online advertising ecosystem.”
As the investments arm of one of the world’s largest media and entertainment companies with an objective of expansion into key strategic markets, Time Warner’s involvement in the deal substantiates the impact Tumri has made in display advertising. The financial support from Tumri’s investors will result in improved and enhanced services and capabilities for the Tumri solution – a dynamic display advertising platform that has already drawn the attention and adoption of the world’s leading brand marketers and publishers.
The Tumri platform seamlessly deconstructs ad creatives into core sub-components (i.e. brand logo, product image, offer/price, call to action, etc.), then allows advertisers to adjust each sub-component by targeting or performance parameters. The Tumri AdPod marries advanced targeting capabilities with a dynamic, interactive presentation layer, enabling advertisers to craft highly targeted marketing messages to consumers on-the-fly.
About Time Warner Investments
The Time Warner Investments group targets non-control strategic investments that have a clear impact on Time Warner’s divisional operations and directly enhance the Company’s ability to meet specific strategic goals. Time Warner Inc. is a leading media and entertainment company, whose businesses include interactive services, cable systems, filmed entertainment, television networks and publishing. For more information, please visit: www.timewarnerinvestments.com.
About Silicon Valley Bank
Silicon Valley Bank is the premier commercial bank for companies in the technology, life science, venture capital/private equity and premium wine industries. SVB provides a comprehensive suite of financing solutions, treasury management, corporate investment and international banking services to its clients worldwide. Through its focus on specialized markets and extensive knowledge of the people and business issues driving them, Silicon Valley Bank provides a level of service and partnership that measurably impacts its clients’ success. Founded in 1983 and headquartered in Santa Clara, Calif., the company serves clients around the world through 27 U.S. offices and international operations in China, India, Israel and the United Kingdom. Silicon Valley Bank is a member of global financial services firm SVB Financial Group (Nasdaq: SIVB), with SVB Analytics, SVB Capital, SVB Global and SVB Private Client Services. More information on the company can be found at www.svb.com.
Silicon Valley Bank is the California bank subsidiary and the commercial banking operation of SVB Financial Group (Nasdaq: SIVB). Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve System. SVB Private Client Services is a division of Silicon Valley Bank. SVB Financial Group is also a member of the Federal Reserve System.
Tumri is the leading provider of dynamic display advertising solutions. Based in Mountain View, CA, Tumri has developed an innovative advertising platform that creates a highly dynamic and interactive advertising experience. The Tumri solution – the AdPod – enables advertisers to craft highly targeted marketing messages to consumers on-the-fly. The Tumri platform seamlessly deconstructs ad creatives into core sub-components, then enables advertisers to adjust each sub-component by targeting parameters or optimize by performance metrics. As a result, the Tumri platform delivers highly relevant advertising messages to consumers while lowering creative production costs and timelines. Additionally, Tumri’s patent-pending platform optimizes performance at a sub-ad component level and delivers unparalleled consumer insights through its proprietary reporting. Tumri was named an AlwaysOn 2009 OnMedia 100 winner, a winner of two Internet Advertising Competition awards, an American Business Awards Finalist in 2009 in the Technology Ads & Campaigns categories, a “One to Watch” company for Dealmaker Media’s 2007 Momentum Growth Conference and has been featured in The New York Times, The San Francisco Chronicle, and in BusinessWeek. Tumri is funded by the premier venture capital firms Accel Partners, Shasta Ventures and Tenaya Capital. To learn more about Tumri visit www.tumri.com.