Contextual Ad Intelligence Firm GumGum Raises $75m

In the US, contextual advertising tech firm GumGum has raised $75m from financial institute Goldman Sachs Growth, which it will use to accelerate the growth of its contextual intelligence ad product suite.

GumGum uses its machine learning expertise to extract value from digital content for the advertising and sports industries; and its contextual intelligence engine uses computer vision and natural language processing technologies to scan text, images and videos when evaluating digital content. The company participates in more than 100 billion ad auctions and performs contextual analysis on over 50 million unique pages and videos per day.

New funding will be used to make the company's contextual API and contextual powered display, native, video (OTT and web) products more widely available, and to invest in key international markets. Allison Berardo of Goldman Sachs Growth comments: '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.'

The firm, which is led by CEO Phil Schraeder (pictured), is online at: www.gumgum.com .