Online advertising technology company C1X has raised $5.1 million in series A funding. The investment was led by University of Tokyo Edge Capital, with participation from Innovative Venture Fund (the joint fund of NEC and Sumitomo Mitsui Bank), Mobile Internet Capital, Japanese media company Mynavi, ad agencies and angel investors. The company has offices in Japan and India, with plans for continued growth in those countries, and across Southeast Asia.
Started in 2014 by Founder and CEO Mukundu Kumaran, the company name stands for ‘class one exchange’, it offers a data-driven programmatic advertising platform for premium publishers and brands or generate a media plan based on the advertisers’ goals and specifications. Its Audience Data Platform empowers publishers to efficiently sell premium inventory to online media buyers and brands seeking transparent access to verified premium sites and audiences.
“Buying the inventory from the publisher directly and overlaying audience on top of it, that’s the key piece most of the buyers are looking for,” Kumaran said.
“When we work with the publisher and say, ‘What’s the rate card?’ we show the exact same price to the agency,” he said. “There’s no middleman, no SSP.”