Nyiax, a New York City-based guaranteed advertising contract exchange, closed a $5.6m funding round.
The round was led by WestPark Capital.
The company intends to use the funds to expand its global reach and accelerate open trading on the platform.
Founded by Carolina Abenante, Nyiax provides a technology platform designed to bring automated trading capabilities and rigor to the buying and selling of advertising. Powered by Nasdaq technology, the blockchain-enabled platform combines financial matching engine and trading concepts with advertising technology to enable publishers and advertisers to buy, sell and re-trade future premium advertising inventory as guaranteed contracts. The exchange provides media buyers with a transparent way to secure and re-trade premium future advertising inventory, while enabling publishers to increase revenue by improving sell-through, retain higher CPMs, and reduce fees.