TC50 Finalist DataXu Scores $11 Million More For Online Ad Bidding Platform

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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.

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