OpenX Technologies Inc., which develops online advertising software and counts Groupon among its clients, on Tuesday said it raised $20 million in a Series D funding round.
The Pasadena company, which expects to turn profitable this year, has raised than $50 million since its founding in 1998. It plans to use the money to accelerate growth and international adoption of its OpenX Enterprise software, which combines an ad server and an ad exchange, OpenX Enterprise and OpenX Market.
The software, whose clients include the daily-deal giant Groupon, enables even first-time publishers to manage exclusive, guaranteed, non-guaranteed and real-time revenue sources in one unified platform, OpenX claims. Over the past year, OpenX Market revenue has grown nearly 600 percent, said the company, which has international partnerships with Dentsu in Japan and Orange-France Telecom in Europe.
The round was led by SAP Ventures and includes new investors AOL Ventures, Mitsui & Co. Global Investment Inc. and Presidio Ventures, along with prior investors Accel Partners, Index Ventures and DAG Ventures.
As part of the deal, SAP Ventures gains a seat on the board. “We see digital advertising rapidly becoming an integral part of the enterprise ecosystem as it becomes more and more core to businesses,” Nino Marakovic, SAP Ventures managing director, said in a statement. “We believe that OpenX will become an industry-defining platform in this rapidly growing sector.”
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