[May 31, 2011] |
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OpenX Closes $20 Million Series D Funding
LOS ANGELES --(Business Wire)--
OpenX Technologies, Inc. (OpenX), the world's leading independent
provider of digital advertising technology, today announced it has
completed a $20 million Series D funding round that brings the total
investment in OpenX to more than $50 million. SAP (News - Alert) Ventures led
the round with the participation of additional new investors AOL
Ventures, Mitsui & Co. Global Investment, Inc., and Presidio Ventures,
the wholly owned investment vehicle of Sumitomo Corporation. Existing
investors Accel Partners (News - Alert), Index Ventures and DAG Ventures also
participated in the round. As a result of its investment, SAP Ventures
will take a seat on the company's board of directors. OpenX will
use the additional funds to accelerate growth, including international
expansion, and to drive further adoption of OpenX Enterprise, the
company's Software as a Service revenue serving product for large
publishers.
With the recent launch of the new OpenX Enterprise platform, OpenX
offered the online advertising market the first true total revenue
serving platform. Since OpenX Enterprise combines an ad server and an ad
exchange, it enables publishers to manage exclusive, guaranteed,
non-guaranteed and real-time revenue sources all in one unified
platform. As a result, for the first time publishers can maximize yield
across all their ad revenue channels in real-time.
OpenX has made significant progress over the last year in terms of both
product adoption and revenue. Adoption of OpenX Enterprise by major
publishers has grown rapidly and the platform is now used by hundreds of
customers around the world, including Groupon, Excite Japan and Business
Insider. Over the past year, OpenX Market revenue has grown nearly
600%. The company has struck international partnerships for the exchange
with Dentsu-cci in Japan and Orange (News - Alert)-France Telecom in Europe.
"We think the OpenX real-time revenue serving technology platform has
enormous potential to be a major forcein online advertising," said Nino
Marakovic, managing director, SAP Ventures. "We see digital advertising
rapidly becoming an integral part of the enterprise ecosystem as it
becomes more and more core to businesses. We believe that OpenX will
become an industry-defining platform in this rapidly growing sector. In
addition to our investment, we also plan to leverage our relationships
to help OpenX expand its reach."
"The online advertising technology space has needed a robust alternative
for many years and we believe OpenX, with its innovative technology,
provides a platform that is both an alternative and a paradigm shift for
the industry," said Hiro Yoshikawa, principal, Mitsui Global Investment.
"We're also particularly impressed with the company's execution of its
global-local OpenX Market strategy that is typified by the impressive
OpenX Market Japan partnership with Dentsu-cci. We think this model will
also work well throughout the APAC region and we're pleased to begin our
involvement with the company," said Sanjay Pichaiah, principal, Mitsui
Global Investment.
"We're extremely pleased with the rapid progress OpenX has made and
we're delighted by the funding and support of our investor base," said
Tim Cadogan, chief executive officer, OpenX. "Having new investors
representing one of the world's largest enterprise companies (SAP), one
of the world's largest internet pure-plays (AOL (News - Alert)) and two of the most
important global Asian trading firms (Mitsui and Sumitomo) all coming
together to invest in the global technology platform company we are
creating is - we believe - a compelling and powerful mix."
About OpenX
OpenX is the world's leading independent provider of digital advertising
technology that enables businesses to manage and maximize their ad
revenue. OpenX products, including OpenX Enterprise and OpenX Market,
provide a comprehensive revenue serving platform by combining ad serving
with a unique ad exchange.
OpenX Technologies, Inc. is based in Los Angeles and is backed by
leading investors including Accel Partners, Index Ventures, SAP
Ventures, AOL Ventures, Mitsui & Co. Global Investment, Inc., Presidio
Ventures and O'Reilly AlphaTech Ventures. For more information, please
visit www.openx.com.
OpenX is a trademark of OpenX Limited.
About SAP Ventures
SAP Ventures partners with outstanding entrepreneurs worldwide to build
industry-leading businesses. We are funded by SAP
AG (NYSE: SAP), the market leader in enterprise application
software, and we leverage the relationship with SAP and its ecosystem
for the benefit of portfolio companies. SAP Ventures invests in
technology businesses that serve enterprises as customers or have
enterprises as go-to market partners as well as companies that service
consumers in their professional lives. Over the last 15 years, SAP
Ventures has supported more than 100 companies on five continents. Past
investments include Commerce One, Greenplum, MySQL, Red Hat, and WebEx.
Current portfolio companies include Alfresco, Alteryx, Control4, Endeca,
iYogi, LinkedIn, OnDeck, OpenX, Spring Wireless, Tealeaf, Tremor Media (News - Alert),
and Zend. For more information, visit www.sapventures.com.

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