US-based advertising platform C1X, backed by corporates including media company Mynavi, has secured $8.5m in a first close of its series B round, according to TechCrunch.
The round was led by venture capital firm Venture Labo Investment and included unnamed existing investors. C1X has not disclosed its target for the round.
C1X operates a platform that offers direct and real-time bidding tools that faciliate advertising campaigns on thousands of websites. The technology makes it easier for publishers to target their intended audience.
The company raised $5.1m in an August 2015 series A round backed by Mynavi and Innovative Venture Fund, a joint vehicle of IT product manufacturer NEC and financial services firm Sumitomo Mitsui.
The series A round was led by University of Tokyo Edge Capital, the investment arm of Tokyo University, and included VC firm Mobile Internet Capital, several undisclosed advertising agencies and assorted angel investors.
Daisuke Nagayama, co-founder, chief operating officer and chief global strategist of C1X, said: “We have been aggressive in our global expansion because we know that our versatile, proprietary product suite can be tailored to solve the exact pain points of key players in each unique market.
“We have formed premium partnerships in the United States, India and Tokyo, and we are also planning to also open offices in Dubai and Singapore this year to expand into the Asia Pacific, Middle East and African markets.”