[x+1], a New York City-based online targeting platform, has closed a $10m Series B funding round.
The round was led by Intel Capital, with participation from existing investors Advanced Technology Ventures, Blue Chip Venture Company and Hudson Venture Partners. In March 2010, [x+1] secured a $10m credit line from Silicon Valley Bank.
The company intends to use the funding to support its growth initiatives centered on its digital marketing hub, which is designed to maximize the return on marketing investment of websites and digital media
By leveraging its patented targeting technology, [x+1] allows advertisers and agencies to optimize engagement rates and lift conversion in both media and on websites. The company’s solutions enable automated, real-time decision making and personalization so the right advertisement and content is delivered to the right person at the right time.
Customers include companies in financial services, telecommunications, online services and travel.
[x+1] is led by chairman and CEO John Nardone.