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OpenX Raises $10 Million Series C Funding
Ad management application server OpenX has announced a new Series C round of funding in the amount of $10 million. The total amount that OpenX has raised is $30.8 million to-date. OpenX notes that the funding will be used, “to further expand its market-leading advertising technology products and services and to rapidly accelerate the growth of the recently launched OpenX Market, the company’s unique new monetization platform.”
DAG Ventures led the new Series C round and existing investors Accel Partners, Index Ventures, Mangrove Capital, First Round Capital and Jonathan Miller, the company’s board chairman, all participated.
For the OpenX hosted program, the company reports growth of 500% to 7.5 billion monthly impressions. They also note that 10,000 web publishers are using the hosted program.
Interestingly, OpenX shares some bits about their revenue model which is broken up into four parts:
- professional services for publishers
- premium support packages
- premium Hosted packages
- OpenX Market