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

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.

Author: João-Pierre S. Ruth

After more than thirteen years as a business reporter in New Jersey, João-Pierre S. Ruth joined the ranks of Xconomy serving first as a correspondent and then as editor for its New York City branch. Earlier in his career he covered telecom players such as Verizon Wireless, device makers such as Samsung, and developers of organic LED technology such as Universal Display Corp. João-Pierre earned his bachelor’s in English from Rutgers University.