NYIAX Closes $5.6 Million Seed Round

NEW YORK, NY--(Marketwired - Oct 19, 2017) -  NYIAX, the world's first guaranteed advertising contract exchange, today announced it has successfully closed a $5.6 million funding round led by WestPark Capital. The funding will be used to expand the company's global reach and accelerate open trading on the platform.

"Digital advertising has long suffered from inefficiencies, fraud, and a lack of true automation. It is one of the last sectors to benefit from the strong trading systems that anchor other markets," said Robert Ainbinder, who led the WestPark Capital investment. "NYIAX changes everything -- helping publishers, advertisers and fintech partners address the challenges in today's marketplace. We couldn't be more excited to be among the first to invest in the future of advertising as it unfolds today."

NYIAX's technology platform is designed to bring Wall Street's automated trading capabilities and financial rigor to the buying and selling of advertising.

Today's funding announcement precedes news centered on a joint intellectual property agreement forged between NYIAX and Nasdaq, a key core technology, and now IP partner. Nasdaq's blockchain enabled transactional engine powers NYIAX's trading functions. It plays a similar function across engines powering trading across more than 85 exchanges globally.

"As we close this seed round, we remain 100 percent focused on finalizing all the moves we've made to inform the platform since March and opening trading to all those qualified," said NYIAX founder Carolina Abenante.

Those interested in learning more about trading on the NYIAX platform should contact sales@nyiax.com.

About NYIAX
NYIAX is the world's first advertising contract exchange. Powered by Nasdaq technology, the blockchain-enabled platform combines financial matching engine and trading concepts with advertising technology to enable publishers and advertisers to buy, sell and re-trade future premium advertising inventory as guaranteed contracts. Led by a team of distinguished advertising and financial technology executives, the exchange provides media buyers with a transparent and trusted way to secure and re-trade premium future advertising inventory, while enabling publishers to increase revenue by improving sell-through, retain higher CPMs, and reduce fees. NYIAX is headquartered in New York City.