All the threats regarding the potential of stricter regulation of behavioral targeting don’t seem to have scared off investors, as x+1 is the latest online ad firm in that space to net a big funding round. The company has raised $10 million in a second round funding. In a statement, John Nardone, [x+1]’s chairman and CEO, said that the company would use the funding to help promote general growth efforts around its “digital marketing hub.”
Despite the intensive scrutiny ad targeting is getting from Capitol Hill and privacy advocates, advertisers are also giving the space a closer look. As eMarketer has noted, about $1 billion was expected to be spent on behavioral targeted ads last year, out of roughly $25 billion spent on the web in general. The signs are all there for even more money to be spent on the space this year.
[x+1]’s second round was led by Intel (NSDQ: INTC) Capital, the chipmaker’s investment arm. Previous backers Advanced Technology Ventures, Blue Chip Venture Company and Hudson Venture Partners also participated. Release