|[January 17, 2013]
OpenX Closes $22.5 Million Series E Funding to Accelerate Development of Global Digital Revenue Platform
LOS ANGELES --(Business Wire)--
OpenX Software Ltd. (OpenX), a global leader in digital and mobile
advertising revenue products and services, today announced it has
completed a $22.5 million Series E funding round. This brings the total
investment in OpenX to more than $70 million. New investor Samsung (News - Alert)
Venture Investment Corporation led the round. Existing investors Accel
Partners, Index Ventures, SAP Ventures, Mitsui & Co. Global Investment,
Inc., and Presidio Ventures (News - Alert) also participated in the round. OpenX will
use the funds to further accelerate growth, finance additional
acquisitions, expand internationally and broaden adoption of its digital
OpenX's products enable digital media companies to maximize their ad
revenue on any digitally connected screen. The company has grown very
rapidly since its May 2011 Series D funding round, achieving greater
than 100% year-over-year revenue growth in both 2011 and 2012. In 2012,
OpenX also completed two highly strategic acquisitions - LiftDNA and
JumpTime - both of which further OpenX's mission to maximize ad revenue
for digital media companies. To drive this growth, during 2012 OpenX
doubled its team to more than 260 employees, expanded to five
datacenters on three continents and opened new offices in New York,
London and Tokyo as well as opening a new 45,000 square foot
headquarters in Los Angeles.
A key driver of OpenX's growth has been the global adoption of its
pioneering Real-Time Bidding (RTB) exchange, OpenX Market (Market).
OpenX was one of the first proponents of RTB and is now one of its
leading providers: Market now processes more than one million bids per
second at peak. Now 95 of the nation's leading dvertisers participate
in OpenX Market. In 2011, OpenX served one trillion ad transactions and
served nearly four trillion in 2012 (nearly 300% growth).
"OpenX was an early innovator in Real-Time Bidding technology and has
been rapidly building a comprehensive, multi-screen ad revenue system
that is very well placed to succeed in the global ad market," said
Brannon Lacey, Principal, Samsung Venture Investment Corporation. "Based
on the relationship we've already developed between our companies and
the phenomenal growth in both mobile and Web-based advertising, we're
very excited about the Company's prospects and delighted to begin our
major investment in it."
"OpenX has made terrific progress since we led the Series D financing
round and our new investment reinforces our belief that the Company has
an extremely bright future," said Nino Marakovic, Managing Director, SAP (News - Alert)
Ventures. "The overall environment for SaaS-based digital advertising
products and services continues to expand rapidly. We believe OpenX,
with its uniquely comprehensive ad revenue platform, is especially well
positioned to capitalize on this important macroeconomic trend."
"As we pursue our vision of unleashing the full economic potential of
digital media companies, we're absolutely thrilled to welcome Samsung
Venture Investment Corporation as an investor in OpenX," said Tim
Cadogan, Chief Executive Officer, OpenX. "It's always extremely
validating to have a major partner become a significant investor, and to
add a new investor with the prestige, resources and knowledge of Samsung
Venture Investment Corporation gives OpenX a substantial advantage as we
execute on our mission of powering one of the world's leading revenue
platforms across all digitally connected screens."
OpenX is a global leader in digital and mobile advertising technology.
OpenX's vision is to unleash the full economic potential of digital
media companies. OpenX products, including OpenX Enterprise, OpenX
Market, OpenX Lift and JumpTime provide a unique Software-as-a-Service
platform by combining ad serving, an ad exchange, a Supply Side Platform
and content valuation.
OpenX is based in Los Angeles and is backed by leading investors
including Accel Partners (News - Alert), Index Ventures, SAP Ventures, Samsung Venture
Investment Corporation, Mitsui & Co. Global Investment, Inc., and
Presidio Ventures, the wholly owned investment vehicle of Sumitomo
For more information, please visit www.openx.com
OpenX is a trademark of OpenX Limited.
About Samsung Venture Investment Corporation
Samsung Venture Investment Corporation manages investment and
investment-related activities for Samsung affiliate companies. The
investment mandate for Samsung Venture Investment Corporation tracks
closely to the strategic priorities of Samsung affiliate companies' core
operating divisions, and encompasses investments in semiconductors,
displays, telecommunications, and consumer electronics.
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