Rokt closes US$80M Series D investment round as COVID-19 drives significant demand in e-commerce
PR86231
NEW YORK, Oct. 26, 2020 /PRNewswire=KYODO JBN/ --
-- The tech leader sees a 42% increase in valuation in 2020, to
more than US$450M
Rokt (https://c212.net/c/link/?t=0&l=en&o=2957697-1&h=599315971&u=https%3A%2F%2Frokt.com%2F&a=Rokt ),
the global leader in e-commerce technology, today announced an investment of
US$80M. The capital will help accelerate research & development and support the
expansion of its client base into new verticals and geographies as Rokt
continues to make e-commerce smarter, faster, and better.
Logo - https://mma.prnewswire.com/media/1317767/Rokt_Logo_RGB_Black.jpg
Photo - https://mma.prnewswire.com/media/1317768/Rokt_team.jpg
The funding round was led by Rokt's largest institutional shareholder TDM
Growth Partners (https://c212.net/c/link/?t=0&l=en&o=2957697-1&h=2913782990&u=https%3A%2F%2Fwww.tdmgrowthpartners.com%2F&a=TDM+Growth+Partners ),
and supported by other existing investors including Square Peg
In just this year alone, Rokt's valuation has increased 42% to more than US$450M.
While the COVID-19 pandemic has shaken the foundations of corporations and
startups alike, it has also created a strong market demand for e-commerce and
in turn, for Rokt. Limited in-person shopping and rapidly changing consumer
spending habits have led companies in all categories to accelerate their
digital transformation, and e-commerce has deepened its foothold in daily lives.
"With the industry facing COVID-related challenges, brands need alternative
revenue sources and acquisition channels," said CEO, Bruce Buchanan. "Rokt
continues to be laser-focused on bringing value to the hundreds of e-commerce
companies that rely on our technology to deliver top- and bottom line results,
and will continue to drive innovation and deliver results that the market
desperately needs," Bruce continued, "We are delighted for the investment and
strategic guidance from our shareholders and look forward to continuing to
deliver on our mission."
"Despite the COVID-19 pandemic and the resulting uncertainty, we still have
high conviction in market leading technology companies. Rokt is certainly one
of these businesses. We are thrilled to increase our investment in Rokt and
continue our partnership with Bruce and the business," said TDM partner, Tom
Cowan.
The additional funding sets up a strong foundation for continued rapid growth
of Rokt. Rokt closed their US$48M Series C (https://c212.net/c/link/?t=0&l=en&o=2957697-1&h=1887773521&u=https%3A%2F%2Fwww.prnewswire.com%2Fnews-releases%2Frokt-closes-us48m-series-c-investment-round-to-drive-growth-300948038.html%3Ftc%3Deml_cleartime&a=US%2448M+Series+C )
investment round less than a year ago. Recently, they have invested in
strengthening their leadership team, hiring an SVP of Marketing
a new Chief Technology Officer (https://c212.net/c/link/?t=0&l=en&o=2957697-1&h=2661065824&u=https%3A%2F%2Fwww.prnewswire.com%2Fnews-releases%2Frokt-appoints-new-cto-to-accelerate-technological-innovation-in-the-next-stage-of-growth-301139588.html&a=Technology ), and 3 additional executive appointments
Their world-class technology was also recognized by the MarTech Breakthrough
awards as the Best Use of AI in MarTech (https://c212.net/c/link/?t=0&l=en&o=2957697-1&h=2578551509&u=https%3A%2F%2Fwww.prnewswire.com%2Fnews-releases%2Frokt-recognized-for-innovation-in-artificial-intelligence-with-2020-martech-breakthrough-award-301135258.html&a=%C2%A0Best+Use+of+AI+in+MarTech ).
For more information about the companies, visit Rokt
(https://c212.net/c/link/?t=0&l=en&o=2957697-1&h=1120032825&u=http%3A%2F%2Fwww.rokt.com%2F&a=Rokt ),
TDM Growth Partners (https://c212.net/c/link/?t=0&l=en&o=2957697-1&h=2913782990&u=https%3A%2F%2Fwww.tdmgrowthpartners.com%2F&a=TDM+Growth+Partners ),
and Square Peg (https://c212.net/c/link/?t=0&l=en&o=2957697-1&h=1571071528&u=http%3A%2F%2Fwww.spc.vc%2F&a=Square+Peg ).
ABOUT ROKT
Rokt is the global leader in e-commerce technology, powering the Transaction
Moment(TM) of best-in-class companies including Expedia, Live Nation, Groupon,
Staples, Lands' End, Fanatics, GoDaddy, Vistaprint, and HelloFresh. Rokt's
mission: To make e-commerce smarter, faster, and better.
Through its proprietary technology, Rokt enables its e-commerce clients to
increase brand engagement and unlock new revenues in the Transaction
Moment(TM), allowing them to stay ahead of their competition while delivering a
superior and individualized experience for each customer.
Founded in Sydney, the company now operates in the US, Canada, the UK, Ireland,
France, Germany, the Netherlands, Denmark, Sweden, Norway, Finland, Spain,
Australia, New Zealand, Singapore, and Japan. 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 $150 million per investment.
https://www.tdmgrowthpartners.com/
ABOUT SQUARE PEG
Square Peg is a venture capital firm on a mission to empower exceptional
founders. It invests in technology companies across Australia, Israel and
Southeast Asia with a focus on Series A and B. Square Peg is investing out of
its US$235 million 2018 fund and manages US$1 billion in capital commitments.
www.spc.vc
Source - Rokt
CONTACT: For more information about the investment, please contact press@rokt.com.
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