Tumri, a company that focuses on advertisement personalization services, announced today that they have raised $10 million in funding from several investors.
The lead investor was Lehman Brothers Venture Partners and other investors included Shasta Ventures and Accel Partners.
With this round of funding, David Kim joined the company as a senior vice president of business development and so did Sandeep Nawathe, the vice president of engineering. The company plans on expanding support sales, marketing, and product development.
“As the first integrated merchandising and advertising network that can intelligently deliver targeted products to online consumers, Tumri is poised to capitalize on a rapidly growing market,“ stated Ben Boyer, the vice president and principal at Lehman Brothers Venture Partners. “Tumri’s vision for interactive advertising is based on a strong technical foundation and we are very excited to invest in this innovative company.”
This service benefits online retailers, publishers, and bloggers. The online retailers have their products featured on the websites of publishers and bloggers.
The most recognized service on Tumri is there AdPod feature. AdPod is a widget that is customized by the publisher or blogger and features items from the online retailers. AdPod was built with XML and AJAX. AdPod makes shopping interactive rather than just displaying an item and a link to the retailer.
Tumri was started in 2004 and is based in Mountain View, CA. The company was founded by Hari Menon, Pradeep Javangula, James Rice, and Richard Billington.