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DataXu secures USD11m funding led by Menlo Ventures

DataXu, provider of a real-time bidding platform for online display advertisers, has closed USD11m 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 (pictured), managing director of Menlo Ventures, will join DataXu’s board of directors.

DataXu’s technology helps brands and their agencies use data-driven decisions to improve media performance and reduce operating expenses. The DataXu platform creates campaign-specific data models and algorithms that value, buy and optimise ad placements across all major ad exchanges and other ad inventory sources.

"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," says Jarve.

"We are very pleased with the early results that our system has achieved for some of the world’s leading brands and their agencies," adds Mike Baker, president and chief executive 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."

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