DataXu Snaps Up $10M Strategic Investment From Sky
One of Boston’s most heavily funded private tech companies just got another injection of capital.
Advertising software company DataXu received a $10 million investment from Sky, the European media and broadcasting giant. DataXu has now raised at least $65 million since it was founded in 2007, according to SEC filings. Previous backers include Thomvest Ventures, Accomplice, Flybridge Capital Partners, and Menlo Ventures.
DataXu’s software, based on aerospace engineering algorithms developed at MIT, uses data science to help advertisers manage multiple ad exchanges and optimize their campaigns. Sky’s interest in DataXu stems partly from its expertise in “programmatic marketing”—automated, data-driven tools that help advertisers decide exactly when and where they should place ads across the Web, mobile, and other devices.
The DataXu deal is the latest in a string of investments this year in Massachusetts companies that sell advertising technology or marketing-related software.