GumGum has announced that the ad-supported licensing platform has secured financing from First Round Capital and Crosscut Ventures. Both venture firms specialize in providing seed capital. With two new members on its board of directors, GumGum exits beta with technology that no longer uses Flash and is reportedly more flexible.
The company intends to use new funds to build out its product, which enables publishers to license images by also carrying advertising or paying based on the number of viewers. In beta for two months, GumGum said the company is now tracking over 300 million license views per month. The company said new publishing clients include MTV Europe, popular blogs Gawker, Jezebel, Defamer and others.
GumGum previously raised $225,000 in angel funding. The current amount has not been disclosed. Earlier this week, a number of Web sites reported that First Round Capital was contributing $500,000, and the total amount sought was $1.2 million. Others disputed or said GumGum has disputed these numbers.