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March 31, 2009

Global Ad Leader OpenX Launches New Beta Product with Venture Capital Funds

OpenX Receives $15.5 Million in Series B Funding

Originally based in London, OpenX is an internet advertising and marketing corporation that provides the advertising community with top-of-the-line ad serving software free of charge.  Previously operating under the name Openads, OpenX is a leading global provider of ad services for web publishers.  OpenX changed its name in 2008.

As a subsidiary of OpenX Limited, OpenX gives web publishers the opportunity to select from campaigns, banners and specific terms to give advertisers greater control of advertising.  OpenX also offers a highly developed tracking system which allows advertisers to advertise more efficiently and effectively. 

Today, OpenX claims to serve greater than 35,000 web publishers.  This totals a 25% increase in service over the last year.  According to OpenX, OpenX serves more than 150,000 websites in 25 languages and greater than 100 countries around the world. 

In total, OpenX serves more than 300 billion ads per month.

OpenX’s products include OpenX Ad Server, its free ad server, in addition to OpenX Market and OpenX Hosted. OpenX launched an expanded version of its key service, OpenX Ad Server, in August of 2008.  In addition to its free services, OpenX also has an array of revenue based services.  Contributing to its revenue stream, OpenX offers a new platform of professional services and support packages which include installation, upgrade and training. OpenX Hosted is its most recent product which entered beta testing in January 2008. OpenX Hosted offers premium hosted packages for web designers.

OpenX is led by a strong management team with years of proven experience in internet services.  Leading OpenX is Johathan Miller as Board of Directors and Chairman.  Mr. Miller is the former Chief Executive Officer with AOL.  Also at the helm of OpenX is Co-Founder Scott Switzer.  Mr. Switzer was previously known as the Co-Founder of M3 Media Services.  Tim Cadogan, Chief Executive Officer, was previously the Senior Vice President of Global Marketplaces for Yahoo.com!  Amit Shah is OpenX’s Director of Business Development.

In January of 2008, OpenX received 15.5 Million in Series B Capital Funding from Access Partners, First Round Capital, Index Ventures, Mangrove Capital Partners and O’Reily AlphaTech Ventures.

Accel Partners is a leading venture capital firm providing funding to entrepreneurs in order to build world class companies for a quarter of a century.  Accel Partners has a track record of investing in innovative categories and has invested in Brightcove, Dapper, Metacafe, Netvibes, Tumri, AdMob, Facebook.  First Round Capital has invested in Engage, Mint, Aggregate Knowledge, Attributor, BazaarVoice.

OpenX is headquartered in Pasadena, California with offices in London, England and Pozan, Poland.

OpenX competitors include Trafficspaces, Ad Cycle, Federated Media, DoubleClick, Rocket Fuel.