NEW YORK, NY, Tremor Video, the largest independent video ad network according to ComScore, has landed another $37 million in funding in a round led by New York-based W Capital Partners.

Tremor, based in New York, has now raised more than $115 million. Half or more of the new funds will be earmarked for acquisitions, said Tremor Video CEO Bill Day. The funding also includes investments from Keating Capital, Canaan, Draper Fisher Jurvetson Growth, General Catalyst, Meritech, Singapore's EDBI, Time Warner and SAP Ventures.

"We're becoming more and more of an analytics company and there are other smart people doing interesting things," Mr. Day said.

In the past year Tremor has acquired a competitor, ScanScout, and a mobile video ad network, Transpera. The company expects to invest the rest of the funds in the build-out of its Video Hub analytics platform, which launched in May, as well as in international expansion. Video Hub is currently only available to Tremor Video partners, but the company plans to roll it out as a freestanding product available to anyone by year's end.

"It will be able to be used to analyze any video buy," Mr. Day said. "Someone could use it to analyze a YouTube campaign."

The product expansion will require more salespeople to sell into agencies and brands. Tremor will also allocate funds toward expanding its presence in Europe, where it currently operates in Germany and the United Kingdom, and assessing opportunities in Asia where online video viewership is strong.

Mr. Day wouldn't rule out an IPO in the next year and said the company is growing about 40% year over year.

W Capital Partners' participation marks its first investment in Tremor Video. The private-equity firm has also made late-stage investments in Ancestry.com, Pandora and OpenTable. Bob Migliorino, managing director of W Capital Partners, will take a take a seat on Tremor's board.

"We look for strong growing markets and markets that are somewhat in transition," Mr. Migliorino said. "As the volume of video consumption increases on the internet, we believe that the brand advertising dollars will start to follow."