The tech leader sees a 42% increase in valuation in 2020, to more than US$450M
NEW YORK, Oct. 26, 2020 /PRNewswire/ -- 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.
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% 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 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.
Rokt is the global leader in e-commerce technology, powering the Transaction Moment™ 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™, 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.