Bird & Bird advises OpenX on its $10m Series C round financing

04 June 2009

International law firm Bird & Bird LLP (B&B), in conjunction with Wilson Sonsini Goodrich & Rosati (WSGR), has advised OpenX Technologies, Inc., the world’s leading independent ad server for web publishers, on a $10 million Series C round financing, which brings the total investment in OpenX to more than $30.8 million. Palo Alto-based investor DAG Ventures led the round, with existing investors Accel Partners, Index Ventures, Mangrove Capital, First Round Capital and Jonathan Miller (the Company’s board chairman) all participating.

OpenX is the world’s leading independent ad server for web publishers. OpenX offers its community of publishers comprehensive, customizable and free to use ad serving technology. OpenX Ad Server empowers a community of more than 150,000 websites across the Internet with the ability to take control of their ads and maximize their ad revenue and relevance. OpenX Ad Server products are translated into 25 languages, used in more than 100 countries around the world, and serve more than 300 billion ads each month. OpenX Market is the company’s unique monetization platform and is designed to help publishers maximize the price of their inventory and to help advertisers much more effectively target where their ads are served. The Market uses a real-time auction marketplace in which multiple classes of buyers bid for each impression provided by OpenX’s vast publisher base.

The Bird & Bird team was led by London-based Corporate partner Angus Miln, assisted by associate Chris Charlton. The WSGR team was led by Palo Alto-based Corporate partners Martin W. Korman and Richard A. Kline, assisted by associates Ben Hance and Danielle Nelson. Rick Gombos, Head of Finance and Operations at OpenX Technologies, Inc., commented:  This funding was a significant milestone for OpenX and it was important to have legal counsel who had the requisite depth of experience to assist us. The B&B and WSGR teams led by Angus and Rick, respectively, provided excellent advice and delivered a seamless cross-border service to the Company.

For more information please contact:

Allison Reid or Ben Girdlestone
Tel: +44(0)20 7982 6079 / +44(0)20 7982 6470
Email: allison.reid@twobirds.com / ben.girdlestone@twobirds.com

Notes to Editors

About Bird & Bird

Bird & Bird is an international legal practice comprising Bird & Bird LLP and its affiliated and associated businesses, and has offices in Beijing, Bratislava, Brussels, Budapest, Düsseldorf, Frankfurt, The Hague, Helsinki, Hong Kong, London, Lyon, Madrid, Milan, Munich, Paris, Prague, Rome, Shanghai, Singapore, Stockholm and Warsaw.

For more information on Bird & Bird LLP, please go to www.twobirds.com

About OpenX

OpenX is the world’s leading independent ad server for web publishers. Building on the strength of our open source heritage, we offer our community of publishers comprehensive, customizable and free to use ad serving technology. OpenX Ad Server empowers our community of more than 150,000 websites across the Internet with the ability to take control of their ads and maximize their ad revenue and relevance. OpenX Ad Server products are translated into 25 languages, used in more than 100 countries around the world, and serve more than 300 billion ads each month. OpenX Market is the company’s unique monetization platform and is designed to help publishers maximize the price of their inventory and to help advertisers much more effectively target where their ads are served. The Market uses a real-time auction marketplace in which multiple classes of buyers bid for each impression provided by OpenX’s vast publisher base.

OpenX Technologies, Inc., a wholly owned subsidiary of OpenX Limited, is based in Pasadena, California, with offices in London and Poland. OpenX is backed by leading investors including Accel Partners, Index Ventures, DAG Ventures and O'Reilly AlphaTech Ventures. For more information, please visit: www.openx.org

OpenX is a trademark of OpenX Limited.

For more information on OpenX’s recent funding, please visit: http://www.openx.org/about/openx_closes_10million_seriesc_funding