GumGum Receives $7,000,000 New Funding Round

  • Feed Type
  • Date
    10/24/2011
  • Company Name
    GumGum
  • Mailing Address
    530 Wilshire Blvd. Santa Monica, CA 90401
  • Company Description
    GumGum is a licensing and distribution platform for online content. We believe paying a flat rate to license content for online use is illogical. Offline, the flat rate model works because distribution is finite. Online, thanks to Google and other search engines, a story lives forever.
  • Website
    http://www.gumgum.com
  • Transaction Type
    Venture Equity
  • Transaction Amount
    $7,000,000
  • Transaction Round
    Undisclosed
  • Proceeds Purposes
    The new funding will be used to grow the ad sales infrastructure and team, towards the development of proprietary image recognition, ad serving, and ad matching technologies and for the expansion into additional territories
  • M&A Terms
  • Venture Investor
    New Enterprise Associates
  • Venture Investor
    GRP Partners
  • Venture Investor
    First Round Capital