AppNexus has picked up $60 million in funding from a "large, Boston-based public equity and asset management firm," per a statement from the ad-tech company, which also revealed that an additional $40 million could be on the way from other investors.
Even without the $40 million, the New York-based player has raised $200 million to date. With such cash in its coffers, AppNexus can be valuated at $1.2 billion.
AppNexus didn't disclose names of investors. It claims to have transacted more than $1 billion in ad spending during 2013.
According to a press release, the company plans to use the new cash to "continue the rapid expansion of its global team and to invest in creating innovations that will transform digital advertising." The rounds of funding, coupled with AppNexus' acquisition of Alenty in June, could help the company become a bigger player in the ad tech sector.
The funding influx may mark another step closer to the company going public, as AppNexus CEO and co-founder Brian O'Kelly indicated it had plans to "build and go public when the time is right," following the hiring of Jon Hsu as chief financial officer in April.
"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 here in New York," said O’Kelley. "As a company purely focused on creating great tech, our aim is to continue to revolutionize the advertising industry, and we’re just getting started."
