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Samsung Ventures leads $22.5m OpenX Software investment

18 Jan 2013

computers_lrgSamsung Venture Investment Corp has led a $22.5m Series E financing round for digital and mobile advertising company OpenX Software.

Existing investors Accel Partners, Index Ventures, SAP Ventures, Mitsui & Co Global Investment and Presidio Ventures also took part in the round.

The round brought the total investment in OpenX to more than $70m, and follows a $20m Series D round in May 2011.

OpenX provides products such as its Real Time Bidding (RTB)exchange to help digital media companies maximise their ad revenue.

Samsung Venture principal Brannon Lacey said, “OpenX was an early innovator in RTB 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.

“Based on the relationship we’ve already developed between our companies and the phenomenal growth in both mobile and web-based advertising, we’re very excited about the company’s prospects and delighted to begin our major investment in it.”

SAP Ventures managing director Nino Marakovic added, “OpenX has made terrific progress since we led the Series D financing round and our new investment reinforces our belief that the company has an extremely bright future.

“The overall environment for SaaS-based digital advertising products and services continues to expand rapidly.

“We believe OpenX, with its uniquely comprehensive ad revenue platform, is especially well positioned to capitalize on this important macroeconomic trend.”

Last summer Samsung Ventures led a $20m growth financing round for California-based Raydiance, the maker of the world’s only commercial-grade ultrafast lasers.

Samsung Ventures’ co-investors in the round included existing Raydiance investors Draper Fisher Jurvetson, DFJ-Growth and Greenstreet Partners.

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