Online video advertising startup YuMe has picked up another $10 million in financing from China-based investment firm WestSummit Capital, closing out a $22 million strategic round that was first announced last November. The round was led by Samsung Ventures and also included Translink Capital.
YuMe founder Jayant Kadambi confirmed the raise, and told me by email that the funding will be used primarily to expand into more connected devices. YuMe provides a platform for delivering ads against online videos, but has recently been adding support for connected TVs.
“[W]e are using to expand our Connected TV business across OEMs and publishers globally. We are continuing to expand our business out of our Chennai development labs, as we see tremendous media business growth opportunities across all of Asia,” Kadambi wrote.
That’s the primary reason for Samsung’s interest in YuMe, as well as a previous strategic investment from Intel. Other YuMe investors include Menlo Ventures, Accel Partners, Khosla Ventures, BV Capital, and DAG Ventures. Altogether, YuMe has raised nearly $75 million since being founded in 2007.