Display Ad Tech Company AdRoll Raises $70M In Series C
AdRoll is an online advertising retargeting company that has raised $70 million in funding in Series C funding. AdRoll plans to use the funding for acquisitions and to expand globally. AdRoll has now raised a total of $89 million.
AdRoll has built a marketing platform for brands of all sizes to create ad campaigns based on website data. AdRoll is used to retarget website visitors with ads across Facebook, Twitter, and mobile devices.
AdRoll now has a revenue run rate of $150 million through 150,000 customers. Some of AdRoll’s customers include Levi’s, GoPro, Zendesk and Hipmunk. AdRoll’s algorithms makes over 50 billion ad bidding decisions based on shopping behavior of more than 500 million unique shoppers.
This round of funding was led by existing investor Foundation Capital with participation from new investors Institutional Venture Partners (IVP), Northgate Capital, Performance Equity and Glenmede. Existing investors that joined this round include Merus Capital, Accel Partners and Peter Thiel. Eric Liaw of Institutional Venture Partners is joining AdRoll’s board of directors as an observer.
“In just a few years, retargeting has become as essential as search engine marketing for every digital marketer,” said AdRoll chief executive Aaron Bell in a statement.