Video advertising network Tremor Media has raised an $18 million Series C round from Meritech Capital Partners and previous investors Canaan Partners, Masthead Venture Partners and European Founders Fund, bringing its total funding to just over $40 million.
In these tough economic conditions, it’s an impressive raise. Tremor CEO Jason Glickman said a key difference for Tremor has been its Acudeo middleware platform, which helps publishers manage ad inventory from third-party ad servers. Glickman added that pricing and publisher growth have been steady even considering the downturn, and that Tremor had triple-digit revenue growth in 2008 for the third year running. He said he sees his main competition as Broadband Enterprises and video portals themselves.
New York City-based Tremor, which has more than 100 employees, accesses 137 million uniques per month via its “professional” (read: no UGC) content publishers.