Tuesday, January 24, 2012

OwnerIQ buys R.I. ad serving startup DiJipop

By Rodney H. Brown

Boston online advertising and media company OwnerIQ Inc. has purchased Providence, R.I.-based adtech startup DiJipop Inc. for an undisclosed amount.

According to the OwnerIQ website, buying DiJipop gave it the technology to power its ad management and ad serving system. The system is used to dynamically place banner ads on a webpage in real time, in an attempt to target the right ad to the web user’s interest at that moment.

Venture-backed OwnerIQ closed a $7 million funding round in June 2011, adding Longworth Venture Partners to its existing backers Kepha Partners, Atlas Venture, Common Angels, Egan-Managed Capital & Massachusetts Technology Development Corp.

Founded in 2006, OwnerIQ previously took in a round of venture capital funding in December 2009 when it closed a $5.8 million third round of financing. In 2007, another investment round brought in $2 million to the company.

DiJipop  raised $1 million in angel funding in December 2010, bringing its total financing at that time to $2 million. The new round was led by Bill Cesare, who also led DiJipop’s initial round, late last year. The company was named a Mass High Tech “Startup Watch: Five you should follow” company in September 2009. In 2009, DiJipop participated in Providence’s Betaspring technology startup incubator.