DataXu Raises $27M
DataXu has raised a $27 million round, a hefty chunk though somewhat less than other recent investments in similarly mature display ad tech companies. (AppNexus secured $75 million last month, Rocket Fuel took $50 million in June).
Thomvest Venture Capital led the round and gains a board seat, while current investors Atlas Venture, Flybridge Capital Partners and Menlo Ventures also participated.
We asked DataXu CEO Mike Baker about the company’s acquisition plans, and he had this to say: “We’ve acquired before (for geographic expansion) and are likely to do so again as we grow. That said, DataXu has a strong engineering culture so a key element for this kind of expansion is bringing great technologists into the team.”
Acqui-hires aside, DataXu will likely use some of the money to support its growing marketing, sales, and business operations, as well as consulting services.
DataXu now employs 225 in 11 offices in eight countries globally — including the high-growth Brazilian market.. Brands active on the platform number 700 according to the company, and sales revenue from direct-to-enterprise platform sales (as opposed to managed services) is now a majority of revenue.
One of its acquisitions was that of European DSP Mexad a year ago. On the health of that business, Baker says, ”Mexad is doing well despite the uncertain EU economy… Through the Mexad acquisition we have been able to offer the local service and expertise global brands require.”