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Hari Menon founded Tumri raises $15 Million
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SiliconIndia,Tuesday, 23 June 2009, 04:02 Hrs
California: Tumri, provider of display advertising solutions has raised $15 million in new round of investment. The current round included investment of $10 million by the Time Warner Investments and the existing investors Accel Partners, Shasta Ventures and Tenaya Capital, along with $5 million in debt commitment from Silicon Valley Bank.
Founded by Hari Menon and Pradeep Javangula in 2004, Tumri had earlier raised $10 million in Series B funding led by Lehman Brothers Venture Partners in 2007. With the current investment, the company plans to expand in the areas of global service and support, sales and marketing, infrastructure development, international expansion and continued innovation of advertising platform.
"Tumri's unique approach to dynamic online display advertising is a true innovation amongst the next generation of display ad platform solutions; Tumri has all the ingredients to redefine the online display advertising market. With Tumri's outstanding executive team and its proven, scalable products that perform impressively for advertisers and partners, we believe Tumri is a clear leader in this exciting space," said Rachel Lam, Senior Vice President and Group Managing Director, Time Warner Investments.
"This investment signals the confidence the investment community, particularly strategic media partners like Time Warner, has in our ability to deliver the next generation of advertising solutions," said Calvin Lui, President and CEO, Tumri.
The Tumri platform seamlessly deconstructs ad creatives into core sub-components like brand logo, product image, offer or price and call to action and then allows advertisers to adjust each sub-component by targeting or performance parameters. Its AdPod ties advanced targeting capabilities with an interactive presentation layer, enabling advertisers to craft targeted marketing messages to consumers on the fly.
Founded by Hari Menon and Pradeep Javangula in 2004, Tumri had earlier raised $10 million in Series B funding led by Lehman Brothers Venture Partners in 2007. With the current investment, the company plans to expand in the areas of global service and support, sales and marketing, infrastructure development, international expansion and continued innovation of advertising platform.
"Tumri's unique approach to dynamic online display advertising is a true innovation amongst the next generation of display ad platform solutions; Tumri has all the ingredients to redefine the online display advertising market. With Tumri's outstanding executive team and its proven, scalable products that perform impressively for advertisers and partners, we believe Tumri is a clear leader in this exciting space," said Rachel Lam, Senior Vice President and Group Managing Director, Time Warner Investments.
"This investment signals the confidence the investment community, particularly strategic media partners like Time Warner, has in our ability to deliver the next generation of advertising solutions," said Calvin Lui, President and CEO, Tumri.
The Tumri platform seamlessly deconstructs ad creatives into core sub-components like brand logo, product image, offer or price and call to action and then allows advertisers to adjust each sub-component by targeting or performance parameters. Its AdPod ties advanced targeting capabilities with an interactive presentation layer, enabling advertisers to craft targeted marketing messages to consumers on the fly.
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Reader's comments (5)
1: I think the company is totally diluted by now
with three rounds of funding and still not
breaking even...no matter what the technology
is, there is no enough WTP...marketplace
where it plays looks like a red ocean,
yielding nothing in economic profits...I
wonder what kind of "due diligence" investors
conducted before investing in Tumari...
Posted by: noname - 23 Jun, 2009
2:I agree with the first comment. The $5
million from SVB is also not a good sign.
Looks like they are on a life line.
To make matters worse, there is so much dilution that the original founders like Hari Menon are screwed. He is probably just being kept around for namesake.
They are probably hoping that AOL will acquire them and add them to Platform A. For the amount of money they have raised, they need a really stupid acquirer who will pay crazy amounts (and AOL is the absolute King of stupid acquisitions -- Quigo, Tacoda, Bebo, the list goes on)
To make matters worse, there is so much dilution that the original founders like Hari Menon are screwed. He is probably just being kept around for namesake.
They are probably hoping that AOL will acquire them and add them to Platform A. For the amount of money they have raised, they need a really stupid acquirer who will pay crazy amounts (and AOL is the absolute King of stupid acquisitions -- Quigo, Tacoda, Bebo, the list goes on)
noname2 replied to: noname
post - 25 Jun, 2009
post - 25 Jun, 2009
3: Contradictory to some of the blog posts here,
Tumri raised its round of funding to help
expand its market presence in US and Europe.
The founders, Pradeep and myself are not only
active in the company and have been
instrumental in bringing on the right set of
executives and investors to help grow the
company and leverage the technology lead to
position Tumri as a market leader in the
fastest growing category in the Internet
advertising space - dynamic display ads.
On a separate note, folks who are really concerned about the founders getting diluted should feel free to send us checks to our Mountain View address (on our website)
On a separate note, folks who are really concerned about the founders getting diluted should feel free to send us checks to our Mountain View address (on our website)
hari replied to: noname2
post - 25 Jun, 2009
post - 25 Jun, 2009
4: Hello Hari,
Keep up the good work. Look into Cleveland, OH based BrandMuscle, it may be an excellent strategic fit with Tumri.
Mukul Mehta
Keep up the good work. Look into Cleveland, OH based BrandMuscle, it may be an excellent strategic fit with Tumri.
Mukul Mehta
Mukul Mehta replied to: hari
post - 30 Jul, 2009
post - 30 Jul, 2009
5: this is a good news for Tumri, a big thing to
get funded by Time Warner invetments
Posted by: Sam - 23 Jun, 2009
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