SAP Ventures led a round of funding worth $20 million for online advertising company OpenX.
AOL Ventures, Mitsui & Co. Global Investment, Presidio Ventures also participated in the funding, which will allow OpenX to expand its presence in international markets.
The company offers real-time ad server and ad exchange products that allow businesses to serve ads on their websites and products. SAP has been interested in these particular services as it believes that enterprise software and digital advertising go hand in hand, Forbes reports.
Apart from expanding its services to the UK, Japan and other Asian markets, the company is planning to offer its services in big markets like Germany and Brazil.
OpenX has seen tremendous growth in its revenue in the past two years, with revenue from its flagship product OpenX Market rising 600 percent in 2010.
“A few years ago display was kind of broken and lagging behind search. The last couple of years it has begun to shift. There’s a lot of supply in display and a lot more insight and a lot more technology to execute in real time. Exchanges are fueling a renaissance in how this part of the industy works,” said Tim Cadogan, chief executive of OpenX.