AppNexus, a NYC-based independent advertising technology company, raised a $60m investment from a large, Boston-based public equity and asset management firm.
The deal valued AppNexus at $1.2 billion. According to a written note, other parties have showed interest to invest up to an additional $40m.
The company intends to use the funds to expand operations and make acquisitions (in June it already acquired viewability technology pioneer Alenty).
Founded in 2007 by CEO Brian O’Kelley, AppNexus provides trading solutions and operates marketplaces for Internet advertising.
The company has transacted more than $500m in total ad spend across its platform in 2012, surpassed $1 billion in 2013, and expects that figure to more than double in 2014, exceeding $2 billion. It has raised more than $200m to date and a debt facility ($75 million, extendable to $100 million) led and syndicated through Silicon Valley Bank.
AppNexus has nearly 600 employees across 10 offices worldwide.
FinSMEs
18/08/2014