From the Wires
DataXu Closes $27 Million of Growth Capital to Solidify Its Lead in Programmatic Marketing
Thomvest Leads Financing in New Transformational Software Market
By: Marketwired .
Feb. 7, 2013 07:30 AM
BOSTON, MA -- (Marketwire) -- 02/07/13 -- DataXu, a provider of digital marketing software for the enterprise, today announced that it has closed $27 million in funding. This new round of financing will reinforce the company's leadership position, support ongoing global expansion and accelerate additional investment in technology that keeps its customers at the forefront of innovation.
The investment was led by Thomvest Ventures, a venture capital group headed by Founder and Managing Director Peter Thomson, a director of Thomson Reuters. All three current major investors -- Atlas Venture, Flybridge Capital Partners and Menlo Ventures -- participated in the round. Stefan Clulow, Managing Director of Thomvest, joins DataXu's board of directors with this investment.
"DataXu is using data science to redefine the way marketers build brands in a digital world," said Mike Baker, CEO of DataXu. "In the era of digital and big data, it's increasingly obvious that legacy ways of working in the advertising industry -- including faith-based thinking, lack of transparency, and an inefficient supply chain -- no longer make sense. Our software helps marketers reduce the cost and complexity of marketing across multiple digital channels, while at the same time enabling them to build a much deeper and more actionable understanding of today's empowered consumer. This is the catalyst for our record-breaking growth."
This funding round comes on the heels of a number of milestones:
"Our strategy is to find and partner with entrepreneurs building transformational companies," said Peter Thomson. "The rise of programmatic marketing is reminiscent of how automation and software also revolutionized the financial services industry. We believe DataXu is in the vanguard of an even bigger opportunity and on a trajectory to become the next great enterprise software company."
Copyright © 2013 DataXu Inc. All other brand or product names are or may be trademarks of, and are used to identify products or services of, their respective owners.
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