DataXu Secures $11 Million in Series B Funding Led By Menlo Ventures
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March 8, 2010 – 8:25 am
PRESS RELEASE
BOSTON, MA (March 8, 2010) – DataXu, provider of the leading real-time bidding platform for online display advertisers, today announced it has closed $11 million in Series B funding led by Menlo Ventures. Atlas Venture and Flybridge Capital Partners, who provided DataXu's Series A funding in April 2009, also participated in the round. The proceeds will be used to fund new product development, sales and marketing, and international expansion. John Jarve, Managing Director of Menlo Ventures, will join DataXu's board of directors.
Since the company launched its demand-side platform (DSP) in September 2009, market response has exceeded expectations. DataXu's technology offers a transformative approach to media buying, helping brands and their agencies use data-driven decisioning to improve media performance and reduce operating expenses. The DataXu platform creates campaign-specific data models and algorithms that value, buy and optimize ad placements across all major ad exchanges and other ad inventory sources. Unlike current solutions, DataXu’s optimization considers media context, consumer profiles, and choice of creative when making each ad placement decision.
"At Menlo Ventures, we invest in companies with significant technologies that can successfully create new markets or redefine existing ones. After evaluating the companies in the new DSP market, we chose to back DataXu, because of their proven leadership team and scalable, differentiated technology, which is delivering significant value for its customers. DataXu is well positioned to be a market leader in the new online advertising ecosystem," stated John Jarve, Managing Director of Menlo Ventures.
“We are very pleased with the early results that our system has achieved for some of the world's leading brands and their agencies," said Mike Baker, President and CEO of DataXu. "With this investment from Menlo Ventures, we gain not only a valued financial partner, but also the ability to deliver broader solutions and support to our growing customer base."
About Menlo Ventures
Menlo Ventures provides long-term capital and management support to early-stage and emerging-growth companies. Menlo is one of Silicon Valley's oldest venture capital partnerships, and has organized and managed ten venture funds since their inception in 1976. With over $4 billion under management since inception, and a team with over two hundred years of collective experience in technology, marketing, sales and general management, they have the resources to support the most ambitious of projects.
About DataXu
DataXu, headquartered in Boston, Massachusetts, provides the leading real-time bidding platform for online display advertisers. This powerful technology improves digital campaign performance and delivers unique insights to advertisers. DataXu’s executive team unites leading executives in digital media with MIT technologists. The private company is backed by Atlas Venture, Flybridge Capital Partners, and Menlo Ventures. For more information, visit www.dataxu.com or follow us on Twitter at @dataxuinc.
Contact:
Colleen O'Hara
DataXu
857.244.6167
press@dataxu.com
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March 8, 2010 – 8:25 am
