DataXu, a Boston, Massachusetts-based provider of a real-time bidding platform for online display advertisers, has closed $11m in Series B funding led by Menlo Ventures.
Atlas Venture and Flybridge Capital Partners, who provided the company’s Series A funding in April 2009, also participated in the round.
The proceeds will be used to fund new product development, sales and marketing, and international expansion.
John Jarve, Managing Director of Menlo Ventures, will join DataXu’s board of directors.
DataXu’s technology helps brands and their agencies use data-driven decisioning to improve media performance and reduce operating expenses. Its platform creates campaign-specific data models and algorithms that value, buy and optimize ad placements across all major ad exchanges and other ad inventory sources.