AppNexus revealed Monday it has closed a $60 million investment round from an unidentified Boston public equity and asset management firm, valuing the company at about $1.2 billion. At the time of this writing, the company expects up to $40 million in additional financing to follow from “other interested parties” in the coming months, which would make the new investment total nearly $100 million.
The company’s past raises have totaled $140 million. AppNexus has also increased its debt facility to $75 million, extendable to $100 million.
Rather than riding the ad tech IPO train and weathering the ups and downs of Wall Street, for now co-founder and CEO Brian O’Kelley said the public equity financing will give AppNexus the currency it needs for future M&A, to “aggressively” ramp up on engineering talent and further global expansion.
He spoke with AdExchanger about the deal and ad tech investment landscape at large.