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Meritech leads round to invest in Tremor Media
In a sign that online video is the future of media, Tremor Media announced that it raised $18 million in Series C financing, for a total of $37.6 million in funding.
Leading the round was Meritech Capital Partners, with participation from Tremor Media's existing investors, such as Canaan Parnters, Masthead Venture Partners, and European Founders Fund.
The round follows the company's third straight year of triple-digit revenue growth, according to the NY-based company.
As an online video publisher seeking higher and higher CPMs and a broader advertising footprint, I'm highly interested in this company. Tremor Media competes with other video advertising companies, such as Adap.tv (our current video ad provider) and Ooyala (emerging video ad network and platform).
Tremor Media tells its potential publishing clients that it can get between $7 and $13 effective CPMs for its customers. That's a very healthy rate, but it also requires that pre-rolls and mid-rolls play on the video. Unfortunately, those video advertisements are a minimum of 15 seconds long. Tremor Media is also integrated with other advertising networks, such as ScanScout and Google, to name a few. A publisher has to create a separate relationship with each of those networks, but has the option of inserting ads from those networks, should they be higher than the ones Tremor Media provides.
Unlike Ooyala, Tremor Media does not provide bandwidth, analytics and syndication. But Tremor does provide its owner video player, should a publisher be in need of one.
Tremor Media has the fourth largest video ad network, behind YouTube, MySpace and Yahoo, according to comScore's video metrix.
Tremor raised $11 million in January 2008, and $8.64 million in September 2006.
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Ooyala is a video technology company that provides an integrated platform enabling the delivery, management, and monetization of high quality video content. Focused on innovation and scalability, Ooyala is committed to providing the most comprehensive video solutions to companies worldwide.Ooyala is headquartered in Mountain View, Ca with sales operations in New York, NY and London, UK.
"Ooyala" means cradle in Telugu, a Southern Indian language. We like the name because it demonstrates what we are doing -- cradling a new form of innovation.
Ooyala was founded in early 2007 by Sean Knapp, Belsasar Lepe and Bismarck Lepe - all former Google employees. While at Google, they worked on the development and launch of various monetization and content distribution products such as AdSense, AdWords and Google Web Search. After four years of engineering and product development at the biggest Internet company in the world, the three left Google to start Ooyala. Ooyala has raised over 10 million dollars in funding and has in excess of 5000 publishers using its syndication platform - Backlot. Ooyala's goal is to build a successful technology company that focuses on delivering the best video experience to video content providers, advertisers and most importantly consumers.