DataXu, a Boston provider of digital marketing software, raises $27m

DataXu, a Boston company that makes digital marketing software, said Thursday that it has closed a $27 million round of funding.

The investment was led by Thomvest Ventures. All three current major investors – Atlas Venture, Flybridge Capital Partners and Menlo Ventures – participated in the round, DataXu said in its press release. Since its founding in 2009, the company has raised a total of $65 million.

Mike Baker. Photo taken from DataXu’s website.

“DataXu is using data science to redefine the way marketers build brands in a digital world,” DataXu chief executive Mike Baker said in a statement. “In the era of digital and big data, it’s increasingly obvious that legacy ways of working in the advertising industry – including faith-based thinking, lack of transparency, and an inefficient supply chain – no longer make sense.  Our software helps marketers reduce the cost and complexity of marketing across multiple digital channels, while at the same time enabling them to build a much deeper and more actionable understanding of today’s empowered consumer.”

Advertisement - Continue Reading Below