DataXu Raises $27 Million
DataXu is a digital marketing company that works with enterprise companies. DataXu has raised $27 million in funding. The company will be using the funding to expand globally and accelerate their investment in technology. This round of funding was led by Thomvest Ventures, a company created by Peter Thomson, a managing director of Thomson Reuters.
Existing investors in the company Atlas Venture, Flybridge Capital Partners, and Menlo Ventures also participated. Stefan Clulow, a Managing Director of Thomvest, will be joining DataXu’s board of directors.
“DataXu is using data science to redefine the way marketers build brands in a digital world,” stated DataXu CEO Mike Baker. “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.”
Some of DataXu’s partners include AdMeld, AppNexus, DoubeClick, OpenX, PubMatic, Rubicon, and Right Media.