AppNexus, a US-based provider of technology for internet advertising marketplaces, closed a $110m series E round yesterday, which included a $25m investment by marketing firm WPP.
WPP paid $25m earlier in September to reportedly increase its stake in the company from 1% to 15% as part of a deal that also included the transfer of advertising service platform OAS, formerly known as Xavis for Publishers, to AppNexus.
The round was led by an investor AppNexus described as a “large, Boston-based public equity and asset management firm,” which invested about $60m in August at a $1.2bn valuation.
AppNexus CEO Brian O’Kelley told Business Insider in August that the round would support acquisitions, though the company has not disclosed the financial details of the OAS deal.
AppNexus has now raised about $250m in total from backers that also include T-Venture, the corporate venturing arm of telecommunications firm Deutsche Telekom, Technology Crossover Ventures, Venrock, Kodiak Venture Partners, Tribeca Venture Partners, First Round Capital and Khosla Ventures.
The adtech company expects the total advertising spend across its platforms to exceed $2bn this year, more than doubling the total for 2013.