GumGum, a Santa Monica, Calif.-based global contextual advertising technology company, raised $75m in funding.
The investment was made by Goldman Sachs Growth, which joined existing investors Upfront Ventures, NewView Capital, and Morgan Stanley Expansion Capital.
The company intends to use the funds to accelerate the adoption of its contextual intelligence advertising product suite and expand investments in key international markets.
Led by Phil Schraeder, Chief Executive Officer, GumGum is a global technology and media company specializing in contextual intelligence for Display, Native, Video (OTT & Web). The company has applied its machine learning expertise to extract value from digital content for the advertising and sports industries. The proprietary contextual intelligence engine uses computer vision and natural language processing technologies to scan text, images and videos when evaluating digital content.
The company works with over 100 major brands and 1200 publishers globally.