DataXu Raises $27m for Data-Driven Ad Platform

Boston-based customer intelligence analytics specialist DataXu has raised $27m in new funding, which it plans to use to support ongoing global expansion and accelerate development of its technology.

DataXu offers a machine learning-based digital ad campaign platform called DX3, which employs a multivariate decision system to understand how consumers engage across multiple devices. Through the analysis of consumer sentiment, DX3 helps to optimize media investments in real-time, while also providing access to a suite of analytics tools.

The latest round was led by Thomvest Ventures, with participation from three current investors - Atlas Venture, Flybridge Capital Partners and Menlo Ventures. To date, DataXu has raised $65m in venture funding.

CEO Mike Baker (pictured) comments: 'DataXu is using data science to redefine the way marketers build brands in a digital world. Our software helps marketers reduce the cost and complexity of marketing across multiple digital channels, while at the same time enabling them to build a much deeper and more actionable understanding of today's empowered consumer.'

The company has eleven offices and more than 200 employees, and is online at: www.dataxu.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.