YuMe raises $12 Million to fuel aggressive expansion
Date: Tuesday , December 06, 2011
YuMe, an operating system provider for TV 2.0, has received a strategic investment of $12 Million from Samsung Ventures, the venture capital arm of the Samsung Group, and Translink Capital. The new round of funding will be used to aggressively expand YuMe's footprint in the nascent connected TV space and to fuel global expansion.
The newest market, connected TV, is scaling rapidly: more than 35 million smart TVs will be in consumer households around the globe by the end of 2011, and an estimated 65 percent of TVs sold in 2012 will be connect-capable. As the only company with video advertising software integrations across online, mobile and connected TVs, YuMe provides both the technology infrastructure and the audience network for advertisers, publishers, and consumer electronics manufacturers to monetize their video networks.
YuMe was co-founded in 2004 by Jayant Kadambi and Ayyappan Sankaran. “Translink Capital and Samsung Ventures have achieved demonstrable success with strategic investments in leading companies. We are excited that these venture funds have chosen to invest in YuMe, enabling us to accelerate our growth in new global markets while continuing to scale and innovate in the connected TV arena,” says Jayant Kadambi, CEO, YuMe.