The company said that the round, which could eventually reach $100 million, valued AppNexus at $1.2 billion. The money came from an unnamed “large, Boston-based public equity and asset management firm.”
Co-founder and CEO Brian O’Kelley told AdAge that the company just saw its first profitable quarter, and that the recent, underwhelming performance of ad-tech companies on the public markets didn’t factor into his decision to raise the money.
O’Kelley and his team have built a platform for buying and selling ads through real-time bidding. The company says 30 billion ad impressions are transacted on the platform each day, with more than $1 billion in ad spend on the platform in 2013. AppNexus also said it has nearly 600 employees.