CPXi Raises $30M, in Its First Funding Round, for Digital Ad Tech

3/28/14Follow @jpruth

Digital media holding company CPXi has raised $30 Million, its first outside funding.

The sole investor in the round was the Business Development Corporation of America.  On top of its funding news, New York-based CPXi also promoted chief marketing officer Jeff Hirsch to be its president. He will retain responsibility for overseeing marketing at the company.

CPXi offers a variety of software for digital ads and marketing. Last October, the company acquired Seattle-based AdReady, which developed a platform marketers can use to create different digital ad campaigns to suit different audiences and devices.

CPXi said it plans to use the new money to further develop such technology and other services. The company also has offices in Chicago, New Orleans, Santa Monica, CA, and Istanbul.

João-Pierre S. Ruth is the editor of Xconomy New York. He can be reached at jpruth@xconomy.com and followed on Twitter @jpruth. Follow @jpruth

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