Krux Adds $35M, Plans to Expand Cloud-Based Data Management Platform

Cloud-based data management platform (DMP) provider Krux announced it has raised $35 million in Series B funds during an investment round led by independent venture capital firm SAP Ventures.

Krux said it plans to use the additional funds on its global sales and support teams and research and development initiatives so it can expand its DMP’s capabilities.

The Krux DMP helps marketers and publishers boost their consumer engagement levels and revenues by allowing them to deliver personalized, real-time ads on laptops, smartphones, tablets and connected TVs, according to the company.

“In the last year, our cross-screen DMP has enjoyed accelerated growth and marketplace penetration with more than 1.6 billion unique monthly users, including some 300 million mobile devices,” Krux CEO Tom Chavez said in a prepared statement. “Data management is fast becoming the center of the enterprise marketing stack. With the support of our original and new investment partners, we will gear-up aggressively to address this significant marketplace opportunity.”

Krux also announced SAP Ventures CEO Nino Marakovic will join its board of directors.

“SAP Ventures looks forward to partnering with Krux on its mission of equipping enterprises to take full advantage of the latest data-driven marketing and advertising strategies,” Marakovic said. “Krux is at the forefront of big data revolutionizing modern marketing, and we believe the company has positioned itself for dramatic growth. We are delighted to support Tom [Chavez] and the Krux team as they build an industry-leading company.”

Funds raised during the Series B round came from SAP Ventures and several other investors, including:

Krux has raised $50 million since its inception in 2010.

Share your thoughts about this story in the Comments section below, via Twitter @dkobialka or email me at [email protected].