ROKT Closes Series ‘B’ Funding Round With $15 Million Led By Moelis

ROKT Closes Series ‘B’ Funding Round With $15 Million Led By Moelis
SHARE
THIS



ROKT announced it has completed a $15 million Series “B” investment led by Moelis Australia Asset Management, part of Moelis & Company. In addition, Time Inc. participated in this round along with existing investors including John Ho, Lachlan Murdoch, Greg Roebuck and Square Peg Capital.

ROKT will use the investment to accelerate development of its market-leading transaction marketing technology, expand its management ranks, ramp up international market growth as well as acquire strategic assets that will strengthen its value proposition.

“ROKT is uniquely positioned at the intersection of digital media and commerce,” said John Ho, Janchor Partners’ chief investment officer. “Both areas are showing enormous growth, with e-commerce on track to be a $3 trillion market in the next few years and performance-driven digital media achieving double digit growth. ROKT is right in the middle of these two areas of immense growth. Its own growth potential is significant and I remain confident it will be fully realized.”

“This funding round is all about stepping up the speed and scale of ROKT’s growth. It comes at a time when ROKT is experiencing dramatic momentum worldwide,” said Bruce Buchanan, ROKT’s CEO. “It gives us the opportunity to build upon our dynamism as well as achieve more and better outcomes for our clients and partners.

“Over the past year ROKT expanded its presence in the United States, growing revenue there eightfold, entered the Canadian market, launched operations in the United Kingdom, made key hires for critical roles and increased headcount in all segments of the business. ROKT is a very different company from just a couple of years ago when we operated out of a single office in the suburbs of Sydney,” Buchanan said.

ROKT has worked with over 2,000 clients, including such brands as eBay, Ticketmaster, Expedia, Hotels.com, Time Inc, Groupon, Dominos and Emirates to help achieve better online commerce results by improving customer engagements and delivering meaningful native monetization. ROKT also works with thousands of performance marketers focused on acquiring large numbers of new customers at the point of transaction. The company’s solutions deliver consistent results for its clients. For example, ROKT improved GrubHub’s conversion rate 600% among the food delivery service’s key demographics.

“We are pleased to be supporting and working with the experienced and high quality ROKT team as they bring the benefits of its platform to more advertisers and ecommerce businesses as part of their global expansion,” said Ben Wong, a Moelis Managing Director.

Time Inc. became an investor in this round after its Synapse unit worked with ROKT over the past 12 months driving significant business results.

“Time Inc. is pleased to invest in ROKT. As a customer, we have had a great experience with ROKT’s technology and platform and have seen, first-hand, its ability to impact the marketplace. From the perspective of a customer, the ROKT partnership is a success for us,” said Erik Moreno, Time Inc.’s Executive Vice President and President, Corporate Development, New Ventures & Investments. “We look forward to working with Bruce and his team as they execute on their vision for the future of digital marketing and commerce.”

ROKT’s approach to consumer engagement centers on treating the individual with respect and courtesy. Interactions won’t occur unless and until the consumer consents to welcome a brand into her/his world. While this isn’t a new concept, ROKT has been able to yield 3 times greater returns than other digital channels.

“Since our investment in ROKT we have seen the business improve on every dimension: the product has evolved significantly; the value delivered to advertisers and e-commerce operators has grown dramatically; and, most importantly, Bruce’s team has gone from strength-to-strength,” said Paul Bassat, Square Peg’s Co-founder. “Our participation in this round reaffirms our belief that ROKT is on a path to truly alter how brands acquire and engage with customers in a way that will yield unmatched results.”

Please login with linkedin to comment

Client relationship Health Insurance

Latest News

The Turning Tide Against Surveillance Capitalism
  • Opinion

The Turning Tide Against Surveillance Capitalism

In this guest post, CTO of Wiise, Hamish Browne (pictured below), says tech’s new focus on privacy will lead to new rules and new ways of doing business for marketers… With the delicate balance between customer data and privacy in the spotlight like never before, the potential emergence of new standards and business models, is […]

Opinion

by B&T Magazine

B&T Magazine
Kim Kardashian Spruiks Cryptocurrency In Instagram Ad
  • Media
  • Technology

Kim Kardashian Spruiks Cryptocurrency In Instagram Ad

Businesswoman, reality TV star, and social media personality Kim Kardashian has posted an ad for mysterious cryptocurrency Ethereum MAX [EMAX]. In a post on her Instagram story – where she has 228 million followers – Kardashian wrote: “Are you guys into crypto????” “This is not financial advice but sharing what my friends just told me […]

by B&T Magazine

B&T Magazine
Great Southern Bank Rebrands With ‘Happily Clever After’ Via Indie Agency Richard Rose
  • Campaigns

Great Southern Bank Rebrands With ‘Happily Clever After’ Via Indie Agency Richard Rose

Great Southern Bank has launched a brand campaign this week, ‘Happily Clever After’, coinciding with its name change from Credit Union Australia, bringing to life its purpose of helping all Australians own their own home. The journey to changing from Credit Union to Great Southern Bank began back in 2020. When Australia’s largest customer-owned bank, […]

Nine Promotes Jo Clasby To Commercial Director, Publishing
  • Marketing

Nine Promotes Jo Clasby To Commercial Director, Publishing

Nine has promoted Jo Clasby to the role of commercial director – publishing, where she will report to Nick Young. She was previously director of client partnerships – publishing. Her new role establishes her at the same level of seniority as Anthony Smyth, commercial director – radio. Smyth was promoted at the start of this […]

Mark Zuckerberg, chief executive officer of Facebook Inc., listens as Narendra Modi, India's prime minister, not pictured, speaks during a town hall meeting at Facebook headquarters in Menlo Park, California, U.S., on Sunday, Sept. 27, 2015. Prime Minister Modi plans on connecting 600,000 villages across India using fiber optic cable as part of his
  • Technology

“No F*cking Way!”: Pink Floyd Frontman Refused To Give Mark Zuckerberg Rights To Song

Roger Waters, co-founder of Pink Floyd, said he refused to give Mark Zuckerberg the rights to use hit song Another Brick in the Wall (Part Two). Waters was speaking at a pro-Julian Assange event when he said that he had been offered a “huge, huge amount of money” for the use of the 1979 hit […]

by B&T Magazine

B&T Magazine
Accor Celebrates Aussie & NZ Cities With New ‘Go ALL Out’ Campaign
  • Campaigns

Accor Celebrates Aussie & NZ Cities With New ‘Go ALL Out’ Campaign

Hospitality giant Accor is shining a light on the joy of cities through its newest campaign, ‘Go ALL Out’, which launches in Australia and New Zealand today. The gateway to the ‘Go ALL Out’ campaign is ALL – Accor Live Limitless, a lifestyle loyalty program that integrates rewards, services and experiences throughout the Accor portfolio […]

Marketing Firm Silverbean Set To Double Headcount To Support New Client Wins
  • Marketing

Marketing Firm Silverbean Set To Double Headcount To Support New Client Wins

Global affiliate and partner marketing firm Silverbean has secured new contracts with 13 major Australian brands and is now working to double the size of its Asia-Pacific team. Silverbean launched in Australia in 2019 and has seen steady growth through its work with retailers. Now, with 15 new brands joining the Silverbean portfolio, the agency […]

Xandr Launches New Guide Exploring The Future Of Identity
  • Advertising
  • Technology

Xandr Launches New Guide Exploring The Future Of Identity

Xandr, AT&T’s advanced advertising company, today released “Shaping the Future of Identity,” an industry guide exploring the approaches for buyers and sellers, as well as market participants, as they evaluate identity solutions in preparation for a future without third-party cookies.

GTI Appoints New GM Of Marketing & Strategy, Snares Fresh Client
  • Marketing

GTI Appoints New GM Of Marketing & Strategy, Snares Fresh Client

Tourism PR and marketing agency GTI has announced the appointment of longtime media executive Jenny Pham as its new general manager of marketing and strategy. Pham (pictured above) will lead the agency’s marketing division with responsibility for strategy, media and consumer marketing, while GTI founder and managing director Sarah Anderson remains as the day-to-day lead […]

Hospitality Networking Platform Clipboard Launches Equity Crowdfunding Campaign
  • Campaigns
  • Marketing

Hospitality Networking Platform Clipboard Launches Equity Crowdfunding Campaign

Clipboard, a free professional networking platform for the hospitality industry, has announced it will seek to raise its next round of funding via equity crowdfunding platform Birchal. This will power its vision to transform the way the fragmented hospitality industry connects, shares experiences, markets and recruits. With a growing member database of over 24,000 hospitality […]