Progress Partners Secures $8.4 Million Series A Financing for Tremor Media

Business Wire, Sept 25, 2006

Online Media Ad-ternative Cuts into $74 Billion Annual TV Advertising Spend

BOSTON -- Tremor Media (formerly Tremor Network), a leading provider of powerful rich media and online video advertising solutions, announced it has completed a $8.4 million Series A financing found. Masthead Venture Partners and Canaan Partners co-led the Series A financing. To see the press release of the announcement go to: http://biz.yahoo.com/prnews/060918/nym034.html?.v=63

Boston-based Progress Partners (www.progresspartners.com) arranged financing on behalf of Tremor Media, serving as exclusive financial advisor to the company.

Progress Partners is an investment bank focused on raising private equity capital for innovative emerging growth companies and whose entrepreneur-friendly financial approach helps startups plan for, build, and realize business value.

"Working with Progress Partners on our Series A fundraising enabled us to stay focused on running our business," said Jason Glickman of New York-based Tremor Media. "Progress Partners exceeded our expectations. If you are raising cash or contemplating it, I highly recommend them."

"Progess Partners has emerged as a strong player in the digital media market; their domain expertise and savvy was instrumental in helping to put together this deal," said Richard W. Levandov, general partner of Masthead Venture Partners.

"As an investment bank focused on the digital media industry, we see and evaluate a lot of companies," said Nick MacShane, managing director of Progress Partners. "Tremor's talented team and stellar financial backers will help drive the company's offerings of Web-based video advertising (a $1.7 billion market in 2009, according to eMarketer)," said MacShane.