Online video advertising specialist Tremor Video announced Monday that it has raised another $37 million in venture funding, which it plans to use to acquire some smaller competitors. The round was led by W Capital Partners, and includes participation from Keating Capital, Canaan, Draper Fisher Jurvetson Growth, General Catalyst, Meritech, Singapore’s EDBI, Time Warner (s TWX) and SAP Ventures. (s SAP) Altogether Tremor has raised $145 million to date.
According to Tremor CEO Bill Day, whom we spoke with by phone, the startup expects some consolidation over the coming months and years, as the video ad network market matures. When that happens, competitors will rely ever more on scaling up and providing more differentiated technology to advertisers and publishers. On its own R&D side, Tremor is betting heavily on building out its Video Hub platform, as well as adding more analytics features. It’s also looking to expand more internationally.
More tidbits from our conversation with Day:
- Executive chairman Jason Glickman, who resigned his CEO role when the company merged with ScanScout and Day took over, spends about 10-15 percent of his time working with Tremor, as a sort of “uber board member.” The rest of the time, he’s working on his new venture, startup Connected Sports Ventures, which aims to connect TVs with mobile devices for interactive sports applications.
- The integration between Tremor and ScanScout has been done for about six months. According to Day, the company made a quick move to finalize its org structure and most redundancies were taken care of not long after the deal was completed. From a technology standpoint, the platforms were united by April 1. A followup acquisition of Transpera has also already been completed.
- Day says it’s still early days for advertising on connected TVs, but is betting big on mobile platforms. The idea is to make a simplified workflow so that agencies can create one piece of ad creative for mobile devices, and serve it into multiple devices. “From a campaign creation standpoint, we’ve spent a lot of time creating tools so you can build a campaign once and bake into multiple platforms,” Day said.
- While Day believes analytics will become increasingly important to its customers, he doesn’t expect it to contribute much to revenue. At the same time, analytics are strategically important, Days said, because if buyers can use analytics to drive media buys, then Tremor stands to benefit by serving more ads.