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OpenX raises $10 Million

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May 26, 2009 

Author

Edward Barrera  |

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OpenX raises $10 Million

ADOTAS — The company, a neutral online ad server for website publishers, has secured $10 million Series C funding round that brings the total investment in OpenX to more than $30.8 million.

DAG Ventures led the round and existing investors Accel Partners, Index Ventures, Mangrove Capital, First Round Capital and Jonathan Miller, the company’s board chairman, all participated. OpenX will use the funds to expand its advertising technology products and services and to rapidly accelerate the growth of the recently launched OpenX Market (Market), the company’s new monetization platform.

OpenX, then known as Openads, raised $5 million in its Series A financing, which closed in May 2007; it raised $15.5 million in its Series B financing, which closed in December 2007.

According to the company, from December 2008 to April 2009, the monthly run rate of impressions for the new OpenX Hosted (Hosted) product grew more than 500% to 7.5 billion impressions. The number of Hosted sign-ups now exceeds 10,000 in just six months since launch. OpenX Download, the original version of the company’s open source ad server, has also grown significantly. The latest version of the software, OpenX 2.8, has more than 3,000 active users and a monthly run rate of more than 10 billion impressions in just six weeks since launch.

OpenX Marke has also experienced major growth. The Market already has a monthly run rate of more than two billion impressions, an increase of more than 100% since its April 2009 launch.

Tags: ad-server, finance, online-marketplace, Open-Source, OpenX, OpenX-Market and publishers

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