Tremor Network, a provider of rich media and online video advertising solutions, has announced that it has raised $8.4 million in its initial round of institutional financing. Masthead Venture Partners and Canaan Partners co-led the Series A financing. As part of this financing, Richard W. Levandov, general partner at Masthead Venture Partners, and Warren Lee, principal at Canaan Partners, will join Tremor's board of directors.
The company also appointed former Dow Jones & Company SVP of sales, Randy Kilgore as its chief revenue officer. Kilgore will be responsible for managing the company's sales and inventory growth, expanding its relationships with advertisers and publishers, and overseeing the development of new strategic initiatives. Prior to joining Tremor, Kilgore spent more than 16 years with Dow Jones & Company, most recently as SVP of advertising for Dow Jones Online.
(www.tremorenetwork.com; www.mvpartners.com; www.canaan.com)