Hari Menon founded Tumri raises $15 Million

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Hari Menon founded Tumri raises $15 Million
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.