Datalogix has closed a USD25m Series B round of equity financing led by Institutional Venture Partners (IVP).
IVP joins existing investors General Catalyst, Sequel Venture Partners and Costanoa Venture Capital.
The financing will enable Datalogix to continue its rapid growth and accelerate adoption of its audience and measurement solutions across display, mobile, video, social and search channels. This will include investment in scaling its industry leading technology platform and geographic expansion.
The new funding round follows the closing of a record year for Datalogix, capped by a tripling of its digital business in March. In the past year, Datalogix grew revenue by 50 per cent, added over 100 employees and opened offices in Detroit, San Francisco, and London. In addition, the company was recently recognised as having the "Top Workplace" among Colorado technology companies by the Denver Post.
IVP general partner Sandy Miller (pictured) says: "Datalogix is playing a critical role in helping ad dollars move online effectively at scale. They have a fantastic team, great technology, wonderful data, and enviable relationships with many of the industry’s most important brands and publishers. Seldom have we seen a company at their stage be this well-positioned to capture a market opportunity of this magnitude."
In conjunction with the financing, Datalogix announced that Miller and Paul Ostling will join its board of directors. Ostling, former global chief operating officer of Ernst & Young, joins as an independent director, and will lead the Datalogix Audit Committee.
Ostling says: "I am very excited to work with such a dynamic and innovative enterprise, and look forward to working with the board and management to implement best practices of corporate governance and transparency."
