AppNexus, a programmatic ad platform, on Monday received a $60 million investment from a Boston-based public equity and asset management firm. The investment could reach up to $100 million, pending interest from other parties, per a release.
The investment values AppNexus at $1.2 billion.
“We’re in the very fortunate position to have a variety of strategic options that we could pursue,” Brian O’Kelley, CEO of Appnexus, said to Real-Time Daily when asked whether or not an IPO was on the horizon. “It’s always been something we aspire to, but regardless of whether we decide to go public when the time is right, we’re in this for the long run and are committed to being the world’s absolute best technology company for digital advertising.
"We are, of course, thrilled to have eclipsed the $1 billion-mark and are proud of everything that represents as a global, New York-based technology company," he added.
AppNexus was founded in 2007 and transacted over $500 million in ad spend on its platform in 2012, over $1 billion in 2013, and expects to handle over $2 billion in 2014. The company plans to use the money to expand its team, particularly in global markets. AppNexus recently opened offices in Sydney and Singapore to strengthen its presence in the Asia-Pacific region.
The company also hints in the release that it will eye more acquisitions. In June, AppNexus acquired Alenty, a Paris-based viewability measurement firm.
AppNexus has raised over $200 million to date. It has also increased its debt facility via Silicon Valley Bank to $75 million, with a potential to increase it to $100 million. JP Morgan was AppNexus’ “exclusive financial advisor,” per a release.
The name of the firm that invested in AppNexus was not revealed. “The firm, as a rule, doesn't disclose its name when it invests in private companies,” explained an AppNexus rep.