Thursday, January 17, 2013

OpenX Gets $22.5M More For Online Advertising

Pasadena-based advertising technology firm OpenX has raised $22.5M more in a round of funding, the company announced today, via a Series E funding round. The firm, headed by Tim Cadogan, said this morning that the new funding brings its total raised to more than $70M. The new round was led by Samsung Venture Investment Corporation, and also included Accel Partners, Index Ventures, SAP Ventures, Mitsui & Co. Global Investment, Inc., and Presidio Ventures. The company said the new funds will go towards growth, financing acquisitions, and international expansion.

OpenX develops online ad serving software, used by web publishers to serve up advertising on their web sites; the firm also offers up a real-time bidding exchange, OpenX Market, used by advertisers and publishers for deciding what advertising to serve up to consumers. Acording to OpenX, it more than doubled its team in 2012 to 260 employees, and saw greater than 100 percent year-over-year growth in both 2011 and 2012. That growth was driven by its real-time-bidding exchange, plus the acquisitions of two companies, LiftDNA and Jumptime.

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