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GumGum, an analytics and monetization platform for content online, secures Series A funding and unveils new non-flash based licensing platform.
From the press release:
GumGum Secures Series A Financing; Officially unveils revolutionary new licensing platform
Company releases non-flash based licensing platform, traction soars. Company raises Series A led by First Round Capital and Crosscut Ventures.
SANTA MONICA, CA - July 31, 2008: GumGum, an analytics and monetization platform for content onloine, announced today that it has secured a Series A round of financing. First Round Capital and Crosscut Ventures will co-lead the round. Howard Morgan and Brian Garrett join the company's board of directors.
The Series A funding will enable the company to build out Version 2 of its licensing product. No longer utilizing Flash technology, the new version is an enormous leap forward, providing full flexibility with content, improved monetization and no required changes in existing workflow between publishers and content providers.
GumGum has experienced explosive growth with its new offering. Despite being in private beta for the last 60 days, GumGum is currently tracking over 300 million license views per month.
GumGum contineus to validate its usage-basedapproach to content-licensing. GumGum adds MTV Europe as well as Gawker Media's Gawker, Jezebel, Defamer, and io9 to its growing list of publishers. "GumGum reduces our photo licensing costs while still allowing us to publsih high quality photographs from a variety of photo agencies," said Nick Denton, Publisher of Gawker Media.
"GumGum has developed an innovative platform to connect content creators with publishers," said Howard Morgan of First Round Gapital. "While a fixed-fee content license might make sense for offline media, it mades no sense online. We feel confident that this team can grow a great business. The company has already signed several of the world's largest photo agencies and is generating millions of content views per day."
"GumGum is committed to solving the content licensing problem on the Internet. We have listened to our customers and are proud to announce this game-changing service," said Ophir Tanz, CEO and co-founder of GumGum. "First Round Capital and Crosscut Ventures are absolutely top-notch. We are thrilled with their involvement and look forward to working with them as we continue to grow the company."