The News is Out: We’ve Raised $7M New Funding!
We’re excited to announce this morning on TechCrunch that we’ve raised $7M in series B funding from NEA, with participation from GRP and First Round Capital. This new capital will enable us to hire amazing talent, fuel the continued growth of the ad sales infrastructure, further develop of our proprietary image recognition ad serving/matching technology and expansion into additional territories.
“GumGum is proud to join NEA’s portfolio of visionary entrepreneurs and business leaders building transformational companies around the world,” said Ophir Tanz, CEO and founder of GumGum. “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.”
Read TechCrunch’s coverage on the announcement here.
New ideas deserve new capital and talent… It was the American Way.