US-based advertising platform C1X has raised $5.1m in a series A round featuring media company Mynavi and Innovative Venture Fund, a joint fund of IT company NEC and financial services provider Sumitomo Mitsui, TechCrunch reported on Friday.
The round was led by University of Tokyo Edge Capital, the investment arm of University of Tokyo, and included Innovative Venture Fund, the fund jointly formed by IT technology provider NEC and financial services firm Sumitomo Mitsui.
Venture capital firm Mobile Internet Capital and a range of unnamed advertising agencies and angel investors also participated.
C1X, an abbreviation of “class one exchange”, operates a platform that combines direct and real-time bidding tools to run advertising campaigns on some 2,500 websites, enabling publishers to easily target their precise audience.
The company, which already has offices in Japan and India, will use the funding to further expand in both markets and across Southeast Asia.