The global contextual advertising tech company, GumGum receives an investment of $75 million
SANTA MONICA, Calif., April 13, 2021 /PRNewswire/ -- GumGum, a global contextual advertising technology company, today announced a $75 million investment by Goldman Sachs Growth to accelerate the growth of its sophisticated contextual intelligence advertising product suite. GumGum's Headquarters in Santa Monica, California.
Demand for GumGum's contextual advertising technology is growing rapidly as cookies and other audience targeting technologies based on personal information are being phased out. GumGum, participates in over 100 billion ad auctions and performs contextual analysis on over 50 million unique pages and videos per day.
GumGum will use the investment from Goldman Sachs Growth to make its proprietary contextual API & contextual powered Display, Native, Video (OTT & Web) products more broadly available. The company will also expand and accelerate investments in key international markets.
"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.
"GS Growth's investment further validates the value of GumGum's contextual technology and expertise." said Phil Schraeder, Chief Executive Officer, GumGum. "GumGum has not only perfected its contextual technology but complements it with creative executions to drive performance. When it's done right, contextual can be extremely effective. The time is now — and we are excited to lead the industry in navigating a new way of thinking about contextual as a primary strategy."
GumGum was founded in 2008 and is headquartered in Santa Monica, California. The company works with over 100 major brands and 1200 leading publishers globally. Goldman Sachs Growth will join GumGum's existing investors Upfront Ventures, NewView Capital, and Morgan Stanley Expansion Capital.
About GumGum GumGum is a global technology and media company specializing in contextual intelligence. For over a decade, we have applied our proven machine learning expertise to extract value from digital content for the advertising and sports industries. Our proprietary contextual intelligence engine uses computer vision and natural language processing technologies to scan text, images and videos when evaluating digital content. Combining our contextual advertising intelligence with proprietary high-impact ad formats, GumGum's advertising solutions deliver industry leading efficiency, accuracy and performance.
About Goldman Sachs Growth Founded in 1869, The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm. Goldman Sachs Growth is the dedicated growth equity team within Goldman Sachs, with over 25 years of investing history, over $8 billion of assets under management, and 9 offices globally.
SOURCE GumGum Related Links http://www.gumgum.com