Contextual advertising company GumGum raises $22M

GumGum announces that it has raised $ 22 million through existing investors, Morgan Stanley Expansion Capital, NEA Output NewView Capital, and Upfront Ventures. CEO Phil Schraeder said he will use the funds to pursue a more aggressive acquisition strategy. This D Series comes almost five years after GumGum raised $ 26 million with the C Series. Schraeder told me that “the company’s core business has been profitable for years” and that GumGum now has the ability to convert revenue into revenue about how fast you want to grow. “Historically, we have not done mergers and acquisitions or acquisitions that will be part of what we will do in the future,” he said. “We have built an incredible, strong, and profitable team, with balance and presence in the market that we want to accelerate and grow.”