Tremor International, which provides a platform that automates digital ad transactions for advertisers and publishers, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering. The company is currently listed on London's AIM market (TRMR) with a market cap of $1.4 billion.
Tremor International states that it enables advertisers to reach relevant audiences and publishers to maximize yield on their digital advertising inventory. The company offers an end-to-end platform with three core offerings: a demand-side platform (DSP) for advertisers, a supply-side platform (SSP) for publishers, and an integrated data management platform (DMP) for both. The company has an omni-channel platform, but specializes in video format ads on all devices and Connected TVs. Tremor had 900 active customers and 1,450 active publishers as of March 31, 2021.
Formerly known as Taptica, the company has grown rapidly through several major adtech acquisitions, including the DSP business of Tremor Video in 2017, RhythmOne in 2019, and News Corp's Unruly in 2020.
The Tel Aviv, Israel-based company was founded in 2007 and booked $244 million in sales for the 12 months ended March 31, 2020. It plans to list on the Nasdaq under the symbol TRMR. Tremor International filed confidentially on March 11, 2021. RBC Capital Markets, Stifel, JMP Securities, Needham & Co., and Raymond James are the joint bookrunners on the deal. No pricing terms were disclosed.
