DataXu Raises $11M Series B

DataXu, a real-time bidding platform for online display advertisers raised $11 million in a Series B round led by Menlo Ventures in early March. Venture capital firms and previous investors Atlas Venture and Flybridge Capital Partners participated. According to the DataXu’s press release, the company has built a “transformative approach to media buying,” which offers brands and agencies the ability to make better marketing decisions, improve ad performance, and decrease marketing spend. DataXu claims a number of proprietary alogorithms that optimize ad placements across major ad exchanges, and it is this technology, that attracted Menlo. “At Menlo, we invest in companies with significant technologies that can successfully create new markets or redefine existing ones,” said John Jarve, managing director at Menlo. “After evaluating the companies in the new DSP market, we chose to back DataXu, because of their proven leadership team and scalable, differentiated technology, which is delivering significant value for its customers.”

DataXu plans to use the expansion capital to fund ongoing product development, sales and marketing operations, and international expansion.