Today, LA-based in-image ad network GumGum announced a $7M series B round from NEA, GRP and First Round Capital, bringing the company’s total funding up to $11M.
According to TechCrunch, “GumGum’s in-image ad platform reaches 110 million unique visitors and serves billions of in-image ads per month. Co-Founded in 2007 by Ophir Tanz, GumGum works with online publishers like Time Warner, Hearst Corporation, Tribune, TMZ, Gannett and Glam Network to turn photographs into interactive experiences by overlaying text, banner or Flash ad units on top of the images.”
GumGum currently works with everyone from Essence to Extra, Tyra to Time Warner. And, they’re located right here in LA, smack dab in the middle of Santa Monica. The company plans to use the new capital to grow their sales infrastructure, as well as building out their image recognition and ad serving technology and expanding their reach into new territories.
“GumGum is proud to join NEA’s portfolio of visionary entrepreneurs and business leaders building transformational companies around the world,” CEO and Founder Ophir Tanz said on the company’s blog. “Our goal has always been to bring images to life and this new round will enable GumGum to continue to drive tremendous value for its publishing partners and advertisers. The new funding will primarily be used for hiring, regional expansion and continued development of our proprietary image recognition and ad matching technology.”
To apply for a piece of that new capital — in the form of salary, of course — check out the GumGum jobs page.
