Image licensing network GumGum has raised $2.6 million in and extended Series A funding round led by GRP Venture Partners with First Round Capital participating. This brings GumGum’s total funding to close to $4 million.
GumGum has been seeing fast growth since its launch last year. Measured as an advertising network (but for images), GumGum became a Quantcast Top 100 site, reaching 13.7 million people in the U.S. and 23.5 million worldwide in February. Currently, GumGum reaches 29.8 million people in the U.S. and 50 million people worldwide, according to Quantcast’s lastest stats. More than 2,000 Web publishers license images through GumGum, which allows them to pay based on how many people see the image or use them for free with embedded advertising.
GumGum current clients include B5Media, gossip site DailyFill, Glam Media, MTV, TMZ, New York Post and Gawker. Sites contract directly with photo agencies, and GumGum keeps track of who is using what images and how many times they are viewed. That is what those Quantcast numbers are counting, thus GumGum acts like an ad network for images. GumGum’s founder Ophir Tanz says the new round of funding will be used to develop additional solutions around image licensing as well as drive new revenue opportunities to publishing partners.
Congrats to GumGum on the great success so far. This is truly a huge revolution in image licensing and it’s exciting to see the massive traffic numbers they generate. Truly amazing numbers for a company that launched just over a year ago. This new round will allow them to branch into great new areas and with @msuster of GRP Partners now becoming directly involved (I assume he’s leading the deal from the GRP side), GumGum is really well positioned for further growth with a solid team of leaders.
Congrats guys!
Congrats to Ari + Ophir! Awesome stats!
Brilliant work, well deserved. Congrats!!
interesting
Congrats Ophir & Ari! So good to see GumGum taking off.
Congratulations Ophir & Ari.
Congrats fellas, the co-founder Ari and Ophir are badass, and I bet will knock it out of the park. Solid investment for GRP.
Congrats to the Gum Gum team – execution pays off.
Nice work guys! Love being a part of it!
Big congrats. As a heavy user of the service I can tell you it definitely rocks.
Congrats. Happy to see another success story coming out of LA.
I sat by Ophir in Math class and once saw Ari from across the street. They seem like quite the innovative team. Truly impressive what they’ve accomplished. Here’s to 50 million more.
Impressive time to raise money. Look forward to the next phase.
Congrats to Ophir, Ari, and the rest of the GumGum team!
Hell ya Ophir… Keep rocking that shit
This is an idea whose time has come, from what i’ve seen looks like this system pulls it off nicely.
Where has the gumgum website gone – I’m going to the site and getting address not found – are they still around?