Monday, June 22, 2009

Tumri Secures $15 Million in New Financing

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.

The Company 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."

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