Datalogix Closes $25 Million Financing Led by Institutional Venture PartnersBack
Funding will accelerate growth, scale technology platform and fuel international expansion
Westminster, CO – April 25, 2013 – Datalogix, the leading data platform for the digital era, announced today that it closed a $25 million Series B round of equity financing led by Institutional Venture Partners (IVP). IVP joins existing investors General Catalyst, Sequel Venture Partners and Costanoa Venture Capital. The financing will enable Datalogix to continue its rapid growth and accelerate adoption of its audience and measurement solutions across display, mobile, video, social and search channels. This will include investment in scaling its industry leading technology platform and geographic expansion.
The new funding round follows the closing of a record year for Datalogix, capped by a tripling of its digital business in March. In the past year, Datalogix grew revenue by 50%, added over 100 employees and opened offices in Detroit, San Francisco and London. In addition, the company was recently recognized as having the “Top Workplace” among Colorado technology companies by the Denver Post.
IVP General Partner Sandy Miller commented, “Datalogix is playing a critical role in helping ad dollars move online effectively at scale. They have a fantastic team, great technology, wonderful data and enviable relationships with many of the industry’s most important brands and publishers. Seldom have we seen a company at their stage be this well-positioned to capture a market opportunity of this magnitude.”
In conjunction with the financing, Datalogix announced that Sandy Miller and Paul Ostling would join its Board of Directors. Ostling, former Global COO of Ernst & Young, joins as an independent director and will lead the Datalogix Audit Committee.
Paul Ostling added, "I am very excited to work with such a dynamic and innovative enterprise, and look forward to working with the board and management to implement best practices of corporate governance and transparency."
“It’s great to have IVP on board to support our growth,” said Datalogix Chairman Rob Gierkink. “It is an honor to join a portfolio that has included 93 IPOs and a lifetime IRR of 43% over 32 years. We’re also thrilled to add Directors of the caliber of Sandy and Paul to the Board.”
Datalogix® is the leader at connecting digital media and offline purchasing data. Datalogix helps leading consumer marketers increase the effectiveness and measurability of their advertising. DLX Platform®, encompassing over $1 trillion in consumer spending, powers campaigns for more than 75% of online media companies. DLX ROI™ is rapidly becoming the industry standard for measuring offline sales lift for digital media. The Company’s expertise spans the major consumer segments, including Retail, CPG, Automotive, Telecom, Travel and Financial Services. Datalogix is based in Colorado, with offices in NYC, San Francisco, Boston, Chicago, Detroit and London.
About Institutional Venture Partners (IVP)
With $4 billion of committed capital, Institutional Venture Partners (IVP) is one of the premier later-stage venture capital and growth equity firms in the United States. The partnership is currently investing IVP XIV, a $1 billion later-stage fund focused on investments in rapidly growing technology and media companies. Founded in 1980, IVP has invested in over 300 companies, 93 of which have gone public. IVP is one of the top performing firms in the industry and has a 32-year IRR of 43.2%. IVP specializes in venture growth investments, industry rollups, founder liquidity transactions and select public market investments. Since its inception, IVP investments include such notable companies as ArcSight (HPQ), Buddy Media (CRM), ComScore (SCOR), Concur Technologies (CNQR), Dropbox, Fleetmatics (FLTX), HomeAway (AWAY), Juniper Networks (JNPR), Kayak (KYAK), LegalZoom, LifeLock (LOCK), Marketo, MobileIron, MySQL (ORCL), Netflix (NFLX), Omniture (ADBE), One Kings Lane, Polycom (PLCM), RetailMeNot, Seagate (STX), Shazam, Synchronoss (SNCR), Tivo (TIVO), Twitter and Zynga (ZNGA). For more information, visit http://ivp.com or follow IVP on Twitter: @ivp