Rokt closes US$48M Series C investment round to drive growth
Led by TDM Growth Partners, the funding round brings the total investment in the profitable tech leader to US$82M
Oct 30, 2019, 09:00 ET
NEW YORK, Oct. 30, 2019 /PRNewswire/ -- Rokt, the global leader in e-commerce marketing technology, today announced an investment of US$48M from global investment firm, TDM Growth Partners, as well as existing investors. The capital will help accelerate research & development as Rokt continues to make e-commerce smarter, faster and better.
Rokt has transformed e-commerce by identifying that when customers are buying online as a consumer or on behalf of a business, they increasingly expect more personalized and relevant experiences. Rokt's proprietary technology unlocks the hidden potential in every single Transaction Moment™ enabling clients to stay ahead of their competition, iterate and learn faster, and deliver a more relevant customer experience.
"As we close out our strongest year on record, with over US$100M in revenue, we're delighted to bring on TDM Growth Partners as not only an investor but a long-term strategic partner," commented Bruce Buchanan, CEO of Rokt. "TDM have an envied track record of investing in high growth global tech companies and long-time horizons in their approach. Their investment and strategic guidance will allow us to accelerate our investment in research & development to deliver our clients smarter e-commerce solutions and better experiences for their customers."
Rokt, who recently acquired B2B marketplace OfferLogic and appointed their first Chief Financial Officer, solves complex e-commerce challenges for global clients including Live Nation, Staples, Groupon, GoDaddy, Expedia and Wells Fargo. The company's proprietary technology, machine learning and AI, unlocks value through relevancy and new revenue streams, by ensuring every step in an e-commerce transaction is the next best action for each individual customer. Rokt is currently active in 11 countries with more than 220 employees worldwide.
"TDM travels the world looking to invest in businesses that have built sustainable and long duration growth profiles and we know we have certainly found this in Rokt," said TDM partner, Tom Cowan. "We are delighted to add another unique, highly scalable hyper-growth company to our portfolio of successful technology companies which have included such businesses as Twilio, LiveRamp, and Mindbody in the US, as well as Tyro, Aconex and CultureAmp in Australia. We look forward to supporting Rokt as they drive forward world-class technology to transform e-commerce."
Tom Cowan will join Bruce Buchanan, John Ho, Tek Heng and Tushar Roy on the Board of Directors. Cowan, currently serves on the Board of Directors of Guzman y Gomez and has significant experience as a high-performing investor and Board member.
Also joining the Board of Directors is Groupon Chief Operating Officer, Steve Krenzer who has extensive entrepreneurial and digital experience. Krenzer brings scaling and strong domain experience to the Rokt Board of Directors.
"Having built and developed multiple global organizations in both e-commerce and marketing technology including Groupon, Core Digital Media and Experian, I identified the potential in Rokt, their world-class technology and visionary mission from early on," said Krenzer. "I am delighted to be working with Bruce, Tom and the rest of the board in developing this vision and supporting the business as it continues to expand in the US and beyond."
The addition of these board members, along with the additional funding, set up a strong foundation for continued rapid growth of Rokt.
For more information on Rokt, please visit rokt.com.
For more information on TDM. Growth Partners please visit tdmgrowthpartners.com.
ABOUT ROKT
Rokt is the global leader in e-commerce marketing technology. When customers are buying online, they increasingly expect more personalized and relevant experiences. We unlock the hidden potential in every single Transaction Moment™.
Founded in Sydney, Rokt now operates in the US, Canada, UK, France, Germany, Australia, New Zealand, Singapore, The Netherlands, Spain and Japan.
Our clients include Live Nation, Staples, Groupon, GoDaddy, Expedia, Wells Fargo, Vistaprint and HelloFresh.
Learn more at rokt.com.
ABOUT TDM. GROWTH PARTNERS
TDM Growth Partners is a global investment firm with offices currently in Sydney and New York.
TDM invests in fast growing companies run by passionate management teams. Our unique and flexible mandate allows us to invest in public and private companies globally.
TDM operates on long-term time horizons, and a commitment to help build businesses we're proud of. We have a highly focused approach to investing, with a portfolio of no more than 15 investments globally. TDM has the ability to deploy capital up to $125 million per investment.
SOURCE Rokt
