Blog

February 6, 2013
DataXu Announces $27 Million of Growth Capital

Digital marketing software innovator DataXu announced a new round of growth funding this morning. The company plans
to use the $27 million from new and existing investors to keep its hold as a
leader in bringing data science to marketing while continuing to expand
internationally and developing even more disruptive marketing technologies.

The latest round of financing, led by new investor Thomvest Ventures, also includes
funding from original backers Atlas Venture, Flybridge Capital Partners, and Menlo Ventures. Thomvest, the
Silicon Valley and Toronto-based venture capital firm, is headed by founder and
current Managing Director Peter Thomson of Thomson Reuters. Thomvest’s Stefan Clulow will sit on
DataXu’s Board of Directors.

In a press release, Thomson stated that their interest in investing in DataXu grew out of Thomvest’s strategy “To find
and partner with entrepreneurs building transformational companies."
Specifically, Thomson said that, "The rise of programmatic marketing is
reminiscent of how automation and software also revolutionized the financial services
industry.”

For Thomson, DataXu “is in the vanguard of an even
bigger opportunity and on a trajectory to become the next great enterprise
software company.”

DataXu was born out of the MIT aeronautics/astronautics program when a
group of MIT scientists joined with co-founders with backgrounds in digital
media and consumer electronics to disrupt enterprise marketing. Using analytics
and scientific data, the company’s programmatic marketing platform has achieved
huge success in helping over 700 global brands transform their digital
marketing.

In the press release, DataXu’s CEO Mike Baker acknowledges that the
company’s impressive growth can be attributed to shaking up old marketing
tactics by creating software that, “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.”

Dennis Keohane is a teacher, journalist and contributor to VentureFizz.  You can follow Dennis on Twitter (@DBKeohane) by clicking here.

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