November 13, 2013
OpenX Ranked 3rd Fastest Growing Software Company in North America, 5th Fastest Overall on Deloitte’s 2013 Technology Fast 500™
44,075 Percent Revenue Growth Attributed to Accelerated Adoption of Company’s Software as a Service Platform
LOS ANGELES, November 13, 2013 OpenX Technologies, Inc. (OpenX), a global leader in digital and mobile advertising technology, today announced it ranked Number 5 on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. OpenX grew 44,075 percent during the period 2008 to 2012. Additionally, the list identified OpenX as 2nd fastest growing company in the state of California and 3rd fastest growing company in the Software category nationally.
OpenX’s chief executive officer, Tim Cadogan, credits the innovation of the Company’s Software as a Service digital ad monetization platform together with the growing number of digital media companies who rely on it as key reasons for the Company’s massive revenue growth. He said, “We are very honored to be included on this year’s list. We’ve dedicated our Company to enabling digital media companies to maximize their economic potential across multiple screens. Inclusion on this year’s list is terrific recognition of the monetization platform we have built and the powerful revenue increase it gives those that use it. We are very excited about the opportunity ahead to scale and grow globally.”
“The 2013 Deloitte Technology Fast 500™ companies are exemplary cases of those spurring growth in a tough market through innovation,” said Eric Openshaw, vice chairman, Deloitte LLP and U.S. technology, media and telecommunications leader. “This year’s list is a who’s who of companies behind the most exciting and innovative products and services in the technology space. We congratulate the Fast 500 companies and look forward to what they do next.”
“The fastest growing companies in the US are drivers of constant innovation and operate with the agility to stay ahead of a quickly evolving marketplace, and software, biotech/pharma and internet companies continue to be at the forefront,” added James Atwell, national managing partner of the Emerging Growth Company practice, Deloitte Services LP. “The companies excelling in these sectors have a startup mentality that allows them to be nimble and adapt quickly, which is why they consistently lead the list of fast-growing companies each year.”
OpenX’s products enable digital media companies to maximize their ad revenue on any digitally connected screen. A key driver of OpenX’s growth has been the global adoption of its digital monetization platform, which combines a pioneering Real-Time Bidding (RTB) exchange and a Supply Side Platform. OpenX was one of the first proponents of RTB and is now one of its leading providers: OpenX Ad Exchange now processes more than one million bids per second at peak and 96 percent of the nation’s leading advertisers participate in the marketplace. The Company’s growth has been global, including rapid development in the EU and Asia. Most recently the Company expanded into Germany. The Company’s investors include Accel Partners, Index Ventures, SAP Ventures, Samsung Venture Investment Corporation and Dentsu Inc. digital subsidiary cyber communications, inc.
Overall, 2013 Technology Fast 500™ companies achieved revenue growth ranging from 137 percent to 208,897 percent from 2008 to 2012, with an average growth of 2,600 percent.
About Deloitte’s 2013 Technology Fast 500™
Technology Fast 500, conducted by Deloitte LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies – both public and private – in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2008 to 2012.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
OpenX is a global leader in digital and mobile advertising technology. OpenX’s vision is to unleash the full economic potential of digital media companies. OpenX solutions provide a unique Software as a Service platform by combining ad serving, an ad exchange, which includes Supply Side Platform technology, and content valuation.
OpenX Technologies, Inc., a wholly owned subsidiary of OpenX Software Ltd., is based in Los Angeles and is backed by leading investors including Accel Partners, Index Ventures, SAP Ventures, and Samsung Venture Investment Corporation.
For more information, please visit www.openx.com
OpenX is a trademark of OpenX Limited.