Denver-based adtech company Datalogix raised another huge round yesterday, this one totaling $45 million. The Series C funding led by Wellington Management Company brings Datalogix total funding to $86.5 million.
Datalogix is planning to use the new funding to develop of a wider range of data measurement products to deliver more targeted information to its customers. It is also working on developing data solutions to appeal to a wider range of customers, and not just tech companies.
The Wall Street Journal reported Datalogix is in talks with investment banks such as Goldman Sachs, Deutsche Bank and Barclays to discuss going public. It is said that the IPO could raise as much as $75 million.
As more and more advertisements take place over the Internet and mobile phones, Datalogix provides crucial consumer transaction data to advertisers. The 250-person company aggregates transactional data from everyday shoppers and sells it to advertisers to see if their targeted ads are converting into actual purchases.
This data is becoming extremely valuable to advertisers because companies are becoming increasingly reluctant to launch large digital marketing campaigns when they have no idea whether they are driving sales or not.
With partners such as Facebook, Google, and Twitter, Datalogix has capitalized on the growing Big Data market: their revenues have increased 50 percent in the last 12 months and their employee base has grown by 100.