OpenX Software, a US-based provider of digital and mobile advertising revenue products and services, has raised about $5m of additional financing in its series E round with funding from new investor Cyber Communications (CCI), a Japan-based subsidiary of advertising group Dentsu.
The investment brings the total investment in OpenX to more than $75m. In January, OpenX raised $22.5m in its E round, to take its aggregate total then to more than $70m, from a consortium led by South Korea-based electronics conglomerate Samsung’s corporate venturing unit as a new investor.
Alongside Samsung Venture Investment Corporation in the round were software provider SAP’s Ventures unit, Presidio Ventures, which invests on behalf of Japan-based conglomerate Sumitomo in the US, financial services company Mitsui’s Global Investment group and venture capital firms Accel Partners and Index Ventures.
In partnership with OpenX, CCI operates the exchange as OpenX Market Japan, which offers bidding on adverts.
Hideyuki Nagasawa, chief executive of CCI, said: “The OpenX Market Japan exchange partnership has grown rapidly and, through it, OpenX has successfully introduced its real-time bidding [RTB] technology platform and innovative marketplace design to Japan. Given the anticipated growth of RTB in Japan and globally, we believe OpenX is well positioned to become one of the world’s most significant digital advertising companies.”
Tim Cadogan, chief executive of OpenX, added: “The scope of our investors is truly inspiring. CCI/Dentsu, Samsung Venture Investment Corporation, SAP Ventures, Accel Partners and Index Ventures are all leaders in their respective spaces. The capital, knowledge and relationships these investors offer all give OpenX a major advantage as we execute on our mission of providing a transformative revenue management platform to digital media companies worldwide.”