OpenX Software, a US-based provider of advertising revenue products and services, has raised $22.5m in its series E round 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.
Brannon Lacey, principal at Samsung Venture Investment Corporation, said: “OpenX was an early innovator in real-time bidding technology and has been rapidly building a comprehensive, multi-screen ad revenue system that is very well placed to succeed in the global ad market.”
OpenX has raised more than $70m.
In June 2011, SAP Ventures led the $20m series D round in OpenX.
Alongside SAP Ventures in the D round were AOL Ventures, the corporate venturing unit of internet services provider AOL, Mitsui, Presidio Ventures, Accel Partners, DAG Ventures and Index Ventures.
The company previously raised $31m, including $10m in its C round in May 2009, from publisher O’Reilly’s AlphaTech Ventures corporate venturing unit and VC firms DAG Ventures, Accel Partners, Index Ventures, Mangrove Capital and First Round Capital.
Nino Marakovic, managing director of SAP Ventures, said: “The overall environment for SaaS [software as a service]-based digital advertising products and services continues to expand rapidly.”
The company has grown since its D funding round, achieving greater than 100% year-over-year revenue growth in both 2011 and 2012. In 2012, OpenX also completed two acquisitions: LiftDNA and JumpTime.
