Advertising technology company GumGum said it received a $75 million investment from Goldman Sachs Growth.
The move is the ad tech world, where companies are either consolidating or getting funds from investors. Last week, Iris.TV raised $18 million in a financing round led by Intel Capital.
GumGum targets over-the-top and connected TV ads using contextual clues. Its most recent product is an In-Video overlay that puts a message from a sponsor in the lower third of the screen that is related to the content.
“GumGum’s DNA is rooted in contextual and the company has been iterating on contextual solutions for over a decade,” said Allison Berardo of Goldman Sachs Growth. “Cookies are being phased out and consumer privacy regulations are becoming more stringent. We believe GumGum is well positioned to benefit from this market dynamic as its contextual technology offers an alternative for brands to deliver relevant and targeted advertising.”
As part of the investment, Holger Staude of Goldman Sachs Growth will join GumGum’s board of directors.
Goldman Sachs Growth joins GumGum’s existing investors Upfront Ventures, NewView Capital, and Morgan Stanley Expansion Capital.
GumGum was founded in 2008 and is headquartered in Santa Monica, California.
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