Rokt – a leading e-commerce technology company using machine learning and AI to make transactions more relevant to each shopper – announced an investment of $17.6 million to expand operations at its headquarters in New York City. And to accommodate its growing workforce, Rokt will lease an additional 34,000 square feet of space at 175 Varick Street, bringing its total occupancy in the building to over 100,000 square feet.
Rokt plans renovate the new space to serve as an R&D hub, where it plans to invest $100 million in developing cutting-edge ecommerce software solutions over the next five years. And as part of this expansion, Rokt has committed to creating at least 386 new jobs and retaining its existing 300 full-time roles in New York City, supported by up to $4.7 million in performance-based Excelsior Jobs Program tax credits from Empire State Development (ESD). ESD’s strategic investments support new economic pathways for New York’s workforce to drive innovation and opportunity statewide.
Rokt enables companies to tap additional revenues, acquire advertising customers at scale, and deepen relationships with existing ones by using machine learning to present highly relevant offers to each shopper in the final stages of an e-commerce transaction, when they are most likely to convert.
KEY QUOTES:
“Rokt’s headquarters expansion showcases New York City as a thriving hub for ecommerce, with a world-class talent pool that fuels industry achievements. This growth solidifies the city’s role as a catalyst for success, and ESD is proud to support Rokt’s continued growth in the Empire State.”
– ESD President, CEO and Commissioner Hope Knight
“Being able to attract top-tier local talent is crucial to our continued success and growth as a technology company. We’re proud to call New York City home to our global headquarters and we’re grateful for the support of Governor Hochul and Empire State Development as we expand our presence here and establish a world-class R&D hub on-site at our offices on Varick Street.”
– Bruce Buchanan, CEO of Rokt
