In-Image Ad Network GumGum Raises $7 Million From NEA, First Round And GRP

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In-image ad network GumGum has raised $7 million in new funding from NEA with GRP and First Round Capital participating in the round. This brings GumGum's total funding to $11 million.

GumGum's in-image ad platform reaches 110 million unique visitors and serves billions of in-image ads per month. 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.

For advertisers, GumGum's proprietary image recognition and targeting technology aims to garner engagement through highly targeted campaigns. GumGum says that its campaigns yield 20 times the click-through rates than traditional ad networks. And the company has been profitable since early 2011.

The new funding will be used to grow the ad sales infrastructure and team, towards the development of proprietary image recognition, ad serving, and ad matching technologies and for the expansion into additional territories.

GumGum faces competition from Luminate and Image Space Media.

Crunchbase

Company:

GumGum

Website:

gumgum.com

Launch Date:

January 1, 2007

Funding:

$3.83M

GumGum is the world's largest in-image ad network and a Quantcast Top 20 Network, reaching 110 million unique visitors by serving billions of in-image ads per month.

GumGum was founded in 2007 as a service used by publishers to license photos. The company made a pivot in 2009 when the team realized website publishers were losing valuable revenue by not monetizing their image-based content. As a result, the team transformed the advertising industry with the creation of an in-image ad...

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This story originally appeared on TechCrunch.com.