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Print Edition StoriesMonday, March 8, 2010
DataXu closes $11M second VC round
By Mass High Tech staff
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DataXu Inc. has closed an $11 million Series B venture capital funding round led by Menlo Ventures, with additional funding from Atlas Venture and Flybridge Capital Partners.
The Boston-based company said it plans to use the financing for new product development, international expansion and sales and marketing.
As part of the Series B round, Menlo Venture managing director John Jarve will join the board of directors at DataXu.
The $11 million round comes less than a year after the online advertising startup grabbed $6 million from Atlas Venture and Flybridge Capital Partners in its first round in April 2009. The company emerged from stealth mode in September when it announced its technology in San Francisco.
DataXu develops real-time analytics software for advertising campaigns. The company’s software is designed to bid-manage and buy each ad impression individually, making snap decisions on “hundreds of thousands” of ad opportunities per second.
DataXu was co-founded in 2007 by MIT aeronautics and engineering professor Edward Crawley and former Technology Review president and CEO R. Bruce Journey.
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