Growing ad network Tremor Media raises $11 million

Tremor Media’s ad network reaches half of all internet users in the US, according to Comscore. With more than 90 million unique visitors in November, it is the 18th largest network, trailing market leaders including Advertising.com, Yahoo and Google.

New York-based Tremor has been riding the increase in online advertising. It has grown more than 50 percent since the beginning of 2006.

Masthead Venture Partners and
Canaan Partners together invested $11 million in the comany’s series B round. Canaan also invested in online banner advertising company DoubleClick, which was bought by Google for $3.1 billion earlier this year.

Tremor says it will use the money to expand across its operations and advertising efforts.