OpenX, Ad Server for Web Publishing, Raises $10 million Series C funding from DAG, Accel, Index. Other investors included Mangrove Capital, First Round Capital and Jonathan Miller. The Company raised $5 million in its Series A financing, which closed in May 2007 and raised $15.5 million in its Series B financing, which closed in December 2007.
OpenX is a leading ad server for web publishers offering publishers comprehensive, customizable and free to use ad serving technology.
OpenX Ad Server empowers a community of more than 150,000 websites across the Internet with the ability to take control of their ads and maximize their ad revenue and relevance.
OpenX Ad Server products are translated into 25 languages, used in more than 100 countries around the world, and serve more than 300 billion ads each month.
OpenX Market is the company's unique monetization platform and is designed to help publishers maximize the price of their inventory and to help advertisers much more effectively target where their ads are served.
The Market uses a real-time auction marketplace in which multiple classes of buyers bid for each impression provided by OpenX's vast publisher base.
"OpenX is demonstrating that combining a unique business model with a widely adopted open source product can provide the basis for a company of significant scale," said Nick Pianim, managing director, DAG Ventures. "We think that the 300 billion impressions which flow through the company's software monthly will allow the company to rapidly grow the Market, creating enormous value for everyone in the OpenX ecosystem in the process. Moreover, the broad, worldwide use of the company’s products and services demonstrates that there is a clear need for an independent alternative technology platform in the online advertising space and OpenX is poised to take full advantage of that need."