- Rokt, a leader in e-commerce marketing technology, announced it raised $48 million in funding from TDM Growth Partners and existing investors
Rokt — a leader in e-commerce marketing technology — announced it has raised $48 million in funding from TDM Growth Partners as well as existing investors. This funding round will be used for accelerating research & development as Rokt continues to make e-commerce smarter and faster.
What does Rokt do? Rokt 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. This is made possible through Rokt’s proprietary technology called Transaction Moment. This technology enables clients to stay ahead of the competition and learn faster.
“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,” said 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.”
Recently, Rokt acquired B2B marketplace OfferLogic and the company appointed its first chief financial officer. Some of Rokt’s clients include Live Nation, Staples, Groupon, GoDaddy, Expedia, and Wells Fargo.
Rokt’s technology, machine learning, and artificial intelligence ensures that every step in an e-commerce transaction is the next best action for each individual customer. And Rokt is available in 11 countries.
“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,” added 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.”
Cowan is going to be joining Bruce Buchanan, John Ho, Tek Heng and Tushar Roy on the Rokt board of directors. Groupon Chief Operating Officer Steve Krenzer is also joining the 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,” explained 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.”