Thursday, May 28, 2015

GumGum Gets $26M In New Funding

Santa Monica-based GumGum, the online image-based advertising startup led by Ophir Tanz, has raised a big, $26.0M round this morning, from Morgan Stanley Expansion Capital, along with NEA, Upfrot Ventures, First Round Capital, and the company's other exiting ivnestors. According to the firm, the funding will go towards expansion into international markets, to strengthen its R&D, and continue development of its products. GumGum offers up an in-image, advertising platform which allows advertisers to place ads within photos, in a contextually relevant way. The company last raised funding in 2011, when it raised $7M in a Series B.