In a recently-closed Series C funding round, Tremor Media – the foremost online video ad network and technology source – has reportedly raised $18 million. The round was led by Meritech Capital Partners, and included the company’s current investors – Canaan Partners, Masthead Venture Partners, and European Founders Fund. The new funding will enable Tremor Media to further consolidate its lead in the online video advertising arena, with the help of an escalated product development process; as well as its global expansion, under the headship of the ex-Google-Germany chief, Christian Baudis, who was appointed by the company in September 2008.

With the help of the additional funds, Tremor media intends increasing its investments in highly-developed video technologies – which also include the premier video ad monetization platform Acudeo – and focusing on bringing about a shift in the ad budgets of the $70 billion TV ad market in favor of online video advertising.

Talking about the new investment, Tremor Media’s CEO Jason Glickman, said: “This round enables us to expand our ground-breaking video advertising solutions and to further differentiate ourselves in the online video ad market.”

Glickman added that the shoring up provided by Meritech, Canaan, and the company’s other investors would facilitate the “aggressive execution” of Tremor Media’s policies; thereby giving it the opportunity to fortify its leadership amid the economic crisis!