Rokt has 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.
The funding round was led by Rokt’s largest institutional shareholder TDM Growth Partners , and
supported by other existing investors including Square Peg. In just this year alone, Rokt’s valuation has
increased 42 per cent 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 Rokt CEO Bruce Buchanan [feature image].
“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.
“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 the continued rapid growth of Rokt. Rokt closed their
US$48M 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, and 3 additional
executive appointments in the last 4 months. Their world-class technology was also recognized by the
MarTech Breakthrough awards as the Best Use of AI in MarTech.
