Merchandising, advertising network rakes in cash
Tumri Inc., an integrated merchandising and advertising network, has closed $10 million in Series B funding led by Lehman Brothers Venture Partners. Existing investors, Shasta Ventures and Accel Partners, also participated in this round. The company plans to use the funding to further support sales, marketing and product development initiatives.
“As an integrated merchandising and advertising network that can intelligently deliver targeted products to online consumers, Tumri is poised to capitalize on a rapidly growing market,” says Ben Boyer, vice president and principal at Lehman Brothers Venture Partners. “Tumri’s vision for interactive advertising is based on a strong technical foundation.”
Tumri’s advertising network now includes a swath of online media from numerous publishers to major media companies, and products from retailers including Zappos, Macy’s, Wal-Mart and Sears. Tumri’s proprietary technologies include the AdPod, an interactive ad unit with e-commerce capabilities and targeting technology that combines and enhances contextual and behavioral targeting techniques.
“We’re delighted with Tumri’s early success,” says Jason Pressman, a partner at Shasta Ventures. “The company’s innovative products create much better ad targeting that increases monetization for publishers and accurate, directed reach for advertisers.”
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