Video ad network YuMe confirmed that it has raised $ 12 million in funding led by Samsung Ventures and Translink Capital. The funding, which is a continuation of the strategic investment that YuMe received from Intel last year, comes as the startup looks to expand from serving up ads in browser-based web video to serving up ads on connected TV platforms.
The financing was made public through an SEC filing spotted by VentureBeat earlier today. The investors involved weren’t listed in the filing, but a YuMe spokesperson confirmed to GigaOM that both Samsung and Translink were the principle backers of the round. Previous YuMe investors include Accel Partners, Menlo Ventures and Khosla Ventures, and the startup has raised a total of $ 63 million since being founded in 2007.
Samsung’s investment comes as YuMe is betting more on its connected device strategy, which includes the release of a software development kit (SDK) for connected TVs. The company also announced a partnership with LG earlier this month through which it will serve up video ads into applications on the consumer electronic manufacturer’s Internet-connected TVs and Blu-ray players.
As more publishers develop apps for connected TVs, the need for robust ad-serving platform will be necessary to help monetize their content. With strategic investment from Intel and Samsung, YuMe is no doubt hoping to cash in on that demand as the market matures.
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