Philippi was founded by the king of Macedon, Philip II, on the site of the Thasian colony of Crenides , close to the north Aegean Sea at the foot of Mt. LekaniOrbelos and about 16 Kms from the city of Kavalla, on the northern border of the marsh that in Antiquity covered the entire plain separating it from the Pangaion hills to the south.

The objective of founding the town was to take control of the neighbouring gold mines and to establish a garrison at a strategic passage: the site controlled the route between Amphipolis and Neapolis, part of the great royal route which crosses Macedonia from the east to the west and which was reconstructed later by the Roman Empire as the Via Egnatia.

Philip II endowed the new city with important fortifications, which partially blocked the passage between the swamp and Mt. Orbelos, and sent colonists to occupy it. Philip also had the marsh partially drained, as is attested by the writer Theophrastus.

Philippi preserved its autonomy within the kingdom of Macedon, and had its own political institutions. The discovery of new gold mines near the city, at Asyla, contributed to the wealth of the kingdom, and Philip established a mint there. The city was finally fully integrated into the kingdom under Philip V.

The city remained despite its modest size of perhaps 2000 people. When the Romans destroyed the Antigonid dynasty of Macedon in 167 BC and divided it into four separate states, it was Amphipolis and not Philippi that became the capital of the eastern Macedonian state.

Almost nothing is known about the city in this period, aside from the walls, the Greek theatre, the foundations of a house under the Roman forum, and a little temple dedicated to a hero cult.

This monument covers the tomb of a certain Exekestos, is possibly situated on the agora, and is dedicated to the foundation hero of the city.