NEW YORK Tremor Network said it has hired Randy Kilgore as chief revenue officer and recently closed an $8 million round of funding.
The New York-based video advertising network said Kilgore would be in charge of developing publisher relationships for Tremor's in-stream and in-banner ad placements, as well as working with agencies on campaigns. Kilgore spent over 15 years at Dow Jones, where he was most recently senior vice president of sales for Dow Jones Online.
Masthead Venture Partners and Canaan Partners led the funding round, Tremor's first. The proceeds are earmarked for expanding the company's publisher network and bolstering its sales force.
Tremor hopes to ride the recent resurgence in ad networks. While formerly thought of as sources of cut-rate inventory, networks like Tacoda, Revenue Science and BlueLithium have applied sophisticated targeting to place ads, making them more attractive to advertisers and valuable for publishers.
Tremor hopes to do the same for the hottest market for Web ads: video. It has partnerships to sell pre-roll video ads on more than 300 second-tier publishers, including sites like RedOrbit.com and Hollywood.com.
According to eMarketer, the Web video ad market should grow from $650 million next year to $1.7 billion in 2009.
Other companies, such as AOL's Lightningcast and Brightcove, are trying to stitch together networks to let advertisers easily run video placements across several sites.