31 October, 2019

Mar-Tech Outfit Rokt Raises $70M In Capital

By B&T Magazine

Mar-tech and e-commerce firm, Rokt today announced an investment of US$48M from global investment firm, TDM Growth Partners, as well as existing investors.

The capital will help accelerate research and development.

Rokt has helped to transform 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.

Rokt’s uses proprietary technology to unlock the hidden potential in every single transaction moment enabling clients to stay ahead of their competition, and deliver a more relevant customer experience.

Rokt CEO, Bruce Buchanan (featured image) said: “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.

“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.”

Rokt, who recently acquired B2B marketplace OfferLogic and appointed their first chief financial officer, solves complex e-commerce challenges for global clients including Live Nation, Staples, Groupon, GoDaddy, Expedia and Wells Fargo.

The company’s proprietary technology, machine learning and AI, unlocks value through relevancy and new revenue streams, by ensuring every step in an e-commerce transaction is the next best action for each individual customer.

Rokt is currently active in 11 countries with more than 220 employees worldwide.

TDM partner, Tom Cowan said: “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.

“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.”

Tom Cowan will join Bruce Buchanan, John Ho, Tek Heng and Tushar Roy on the Board of Directors.

Cowan, currently serves on the Board of Directors of Guzman y Gomez and has significant experience as a high-performing investor and Board member.

Also joining the Board of Directors is Groupon chief operating officer, Steve Krenzer who has extensive entrepreneurial and digital experience.

Krenzer brings scaling and strong domain experience to the Rokt Board of Directors.

Krenzer commented: “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.

“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.”

The addition of these board members, along with the additional funding, set up a strong foundation for continued rapid growth of Rokt.

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Rokt TDM Growth Partners