Masterclassing

Investment Values AppNexus at $1.2bn

Tim Maytom

AppnexusIndependent advertising technology company AppNexus has announced that it has received an investment of $60m (£36m), bringing the valuation of the company to $1.2bn.

The investment, which comes from a large Boston-based equity and asset management firm, may well be added to by other interested parties, bringing the total potential investment to $100m.

The New York-based company transacted more than $500m in total ad spend across its platforms in 2012, over $1bn in 2013 and expects to exceed $2bn in 2014. It serves more than 30bn ad impressions per day, and has 10 offices worldwide.

AppNexus plans to use the investment to continue the expansion of its global team and invest in further innovations in digital advertising. In addition, the company is looking into making further partnerships and acquisitions, along the lines of its purchase of viewability company Alenty earlier this year.

"When we founded AppNexus, our aspiration wasn't just to build the world's best ad tech company – we wanted to prove that you can build a seminal, global technology company right her in New York," said Brian O'Kelley, co-founder and CEO of AppNexus. "As a company purely focused on creating great tech, our aim is to continue to revolutionise the advertising industry, and we're just getting started."