Boston-based DataXu, provider of a real-time online ad bidding and optimization system, has secured $11 million in Series B funding to add to the $7.8 million in financing it raised in an earlier round (April 2009).
The company, which was a finalist at last year’s edition of the TechCrunch50 conference and startup launchpad, raised the additional capital from Menlo Ventures and prior investors Atlas Venture and Flybridge Capital Partners.
The DataXu platform creates campaign-specific data models and algorithms that value, purchase and optimize ad placements across all major ad exchanges (including Google, Yahoo and Microsoft’s) and other ad inventory sources – all while taking into consideration media context, consumer profiles and choice of creative.
The startup launched its demand-side platform at TC50 in September 2009, and says it will now use the extra funds for new product development, sales and marketing, and international expansion.
DataXu provides the leading real-time media management platform for digital advertising campaigns across online, mobile and video channels. With a transformative approach to digital advertising - combining automated media buying, optimization and analytics - DataXu helps brands and their agencies use dynamic ad decisioning intelligence for the highest media effectiveness, better operational efficiencies and unique consumer insights. DataXu’s executive team unites leading executives in digital media with MIT technologists. DataXu is headquartered in Boston, Massachusetts, and is backed by...