Tremor Media has raised $40 million in a fourth round of funding — becoming the latest online video ad network to raise a double-digit million round this year. The funding comes as the company, which was profitable for the first time in 2009, has been growing very rapidly; CEO Jason Glickman tells us that the ad network doubled in size over the last year and now reaches nearly 178 million unique internet users each month across more than 1,500 sites. In February, comScore said Tremor Media was now the top online video ad network in the U.S. by potential reach.
The company is using the new cash to invest in its technology platform and also to “drive expansion into other media channels where digital video advertising will grow significantly.” Glickman said those include both set-top boxes and mobile phones.
Glickman wouldn’t say what Tremor Media’s new valuation is, but he said the company raised the round at “very significant” increase over its valuation a year ago when it got $18 million. The latest round — which brings Tremor Media’s total funding to nearly $80 million — was led by Draper Fisher Jurvetson Growth Fund. Tremor Media says existing backers, including Canaan Partners, Meritech Capital Partners, and SAP Ventures, also participated “significantly.”
The big funding round follows others at rival video ad networks recently. So far this year, YuMe has raised a $25 million round, TidalTV has raised a $16 million round, and BrightRoll has received $10 million.