|Tumri network announces financial partners|
Ralf Jurrien : June 9th 2007 - 16:51 CET
Tumri network announces financial partners : The world’s first integrated merchandising & advertising network, announced that it closed $10 million in Series B funding led by Lehman Brothers Venture Partners. Existing investors, Shasta Ventures and Accel Partners, also participated. Tumri plans to use the funding to further support sales, marketing and product development initiatives. Tumri also announced the addition of David Kim, senior vice president of business development, and Sandeep Nawathe, vice president of engineering, to the company’s executive roster. Tumri’s product leadership, investor confidence and new executive appointments show the company’s emergence as an interactive advertising innovator and visionary. |
Tumri interactive advertising|
“As the first integrated merchandising and advertising network that can intelligently deliver targeted products to online consumers, Tumri is poised to capitalize on a rapidly growing market,” said Ben Boyer, vice president and principal at Lehman Brothers Venture Partners. “Tumri’s vision for interactive advertising is based on a strong technical foundation and we are very excited to invest in this innovative company.”
Tumri integrated intelligent ad units
Tumri pioneered the concept of the integrated merchandising and advertising network and recently announced Tumri Publisher, the first ever solution to allow publishers to create dynamic, interactive and targeted AdPod ad units. The company’s advertising network now includes a wide swath of online media from long-tail publishers to major media companies, and products from retailers including industry leaders like Zappos, Macy’s, Wal-Mart and Sears. Tumri’s proprietary technologies include the AdPod, a cutting-edge interactive ad unit with unique ecommerce capabilities, and patented ‘offer intelligence’ targeting technology that combines and improves upon contextual and behavioral targeting techniques.
Tumri online advertising technology
“We’re delighted with Tumri’s early success,” said Jason Pressman, partner at Shasta Ventures. “Tumri’s technology is absolutely unique in the online advertising space. With all of the action in the market right now, it’s important to recognize the innovations of Tumri as a first mover in what we think of as Advertising 2.0. Tumri’s innovative products create much better ad targeting that increases monetization for publishers and accurate, directed reach for advertisers.”
Tumri advertising network
“Tumri has created a category with their unique online advertising product set and services,” said Kevin Efrusy, general partner at Accel Partners. “Their network is poised to provide empowerment and control to companies who market their products online and publishers who monetize their inventory.”
Tumri - Hari Menon
“It’s a very exciting time at Tumri and we couldn’t be more confident in our technology, our strategy and our vision,” said Hari Menon, CEO of Tumri. “Now with this new investment from Lehman Brothers Venture Partners we can continue to build on our vision and exceed the expectations of our publisher and advertiser customers. With the addition of David and Sandeep, I just couldn’t be happier with our executive team. We have some of the best minds in the industry.”
Tumri - David Kim
As Senior Vice President of Business Development, David Kim is responsible for driving strategy, securing key business partnerships and managing Tumri's performance marketing business unit. Prior to Tumri, Kim was vice president of business and corporate development at Efficient Frontier, a leading search engine marketing firm. Previously, Kim was general manager of advertiser web services at Yahoo! (formerly Overture Services). Kim holds a BS in Engineering from the University of California Berkeley and MS in Engineering from Stanford University.
Tumri - Sandeep Nawathe
As Vice President of Engineering, Sandeep Nawathe is responsible for driving the engineering and development efforts at Tumri. Nawathe boasts twenty years of technology and management experience. Prior to joining Tumri, Nawathe co-founded Full Degree/Amphire. He also founded StarPoint, Inc. (which later became part of CMGI/AdForce), an ad serving company, where he served as the vice president of technology and the chief architect responsible for the company's core technology architecture and strategic technology initiatives. Nawathe earned a BS and an MS in Computer Science from the Indian Institute of Technology.
About Lehman Brothers Venture Partners
Lehman Brothers (ticker symbol: LEH), an innovator in global finance, serves the financial needs of corporations, governments and municipalities, institutional clients and high-net-worth individuals worldwide. Founded in 1850, Lehman Brothers maintains leadership positions in equity and fixed income sales, trading and research, investment banking, private investment management, asset management and private equity. The Firm is headquartered in New York, with regional headquarters in London and Tokyo, and operates in a network of offices around the world. Lehman Brothers Venture Partners, established in 1995, targets mid- to later-stage venture capital investments in companies capable of turning innovative technology and management solutions into successful businesses. For further information about Lehman Brothers’ services, products and recruitment opportunities.
About Tumri advertising network
Tumri is the world’s first integrated merchandising and advertising network. Based in Mountain View, CA, Tumri allows publishers, large and small, to monetize their sites with a next generation interactive ad unit, the AdPod, supported by an extensive network of major advertisers and merchandisers. Tumri’s patent-pending offer intelligence technology, expansive reach and interactive ad unit provide advertisers and merchandisers a flexible, effective means of placing their products and messages in the right context, in front of the right audience at the right time.