US-based advertising technology developer AppNexus, which counts software company Microsoft among its backers, raised $60m in series E funding on Monday at a valuation of $1.2bn.
AppNexus said in a statement it has received interest from other potential investors, who could increase the round to $100m. Reports in June suggested e-commerce company Alibaba could invest in AppNexus but it has not disclosed the identity of the round’s investor, saying only that it is a Boston-based publci equity and asset management firm.
The company has also increased its debt facility, led by Silicon Valley Bank, to $75m, extendable to $100m.
Founded in 2007, AppNexus provides technology that powers online advertising marketplaces and claims to be the world’s largest adtech company. It has now raised about $200m in total, including $50m from a 2010 series C round in which Microsoft invested alongside Venrock, Kodiak Venture Partners and First Round Capital.
AppNexus, which acquired advertising visibility platform Aplenty in June, intends to spend the money on further developing its product and growing a workforce that has expanded 43% since the start of 2013.
Brian O’Kelley, CEO of AppNexus, said: “When we founded AppNexus, our aspiration wasn’t just to build the world’s best ad tech company – we wanted to prove that you can build a seminal, global technology company right here in New York.
“As a company purely focused on creating great tech, our aim is to continue to revolutionise the advertising industry, and we’re just getting started.”