AdRoll secures US$70 million to ramp up retargeting platform development

Retargeting platform vendor's latest cash injection a sign of the growing demand for real-time bidding in advertising

Retargeting platform vendor, AdRoll, has raised US$70 million in its latest round of investment funding as demand for advertising retargeting increases.

The newest investors to come on-board include Institutional Venture Partners (IVP), Northgate Capital, Performance Equity and Glenmede. Foundation Capital led the funding round.

IVP’s Eric Liaw will join AdRoll’s board as part of the latest financing initiative. The venture capital firm’s previous investments include ArcSight, Buddy Media, ComScore, Juniper Networks, Dropbox and Snapchat.

Prior to the $70m injection, AdRoll had raised a total of $19 million to fund its activities. The company’s CEO, Aaron Bell, said the new funding was indicative of the growing demand for retargeting as an essential search engine marketing tool for digital marketers.

AdRoll said the money is earmarked for deepening its cross-device offering to reach customers on mobile devices. The company recently launched AdRoll Retargeting for Mobile, which allows advertisers to identify desktop user segments and target them across mobile devices.

The cash will also go towards building momentum globally, as well as driving customer service.

“The new funding lets us hit the gas on our ambitious vision to more broadly become the one platform for companies to better understand their customers and reach them wherever they go,” Bell said in a statement.

AdRoll now claims to have more than 15,000 customers in 100 countries and serves more than 50 billion ad bidding decisions based on the shopping behaviour of 500 million shoppers.

Foundation Capital general manager, Charles Moldow, added display advertising attributed to real-time bidding is projected to exceed $9bn by 2017.

Related: Twitter gobbles up more cookies with retargeted ads
Digital marketing 2014: Where marketers are placing their bets

Follow CMO on Twitter: @CMOAustralia, take part in the CMO Australia conversation on LinkedIn: CMO Australia, or join us on Facebook: https://www.facebook.com/CMOAustralia

Signup to CMO’s new email newsletter to receive your weekly dose of targeted content for the modern marketing chief.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments
cmo-xs-promo

Latest Videos

More Videos

Anyone can become a victim of the sophisticated schemes set up by these scam websites. It's not about being smart; I don't consider mysel...

Mathieu Lecompte

ACCC takes Meta to court over scam cryptocurrency advertising

Read more

Nice blog!Blog is really informative , valuable.keep updating us with such amazing blogs.influencer agency in Melbourne

Rajat Kumar

Why flipping Status Quo Bias is the key to B2B marketing success

Read more

good this information are very helpful for millions of peoples customer loyalty Consultant is an important part of every business.

Tom Devid

Report: 4 ways to generate customer loyalty

Read more

Great post, thanks for sharing such a informative content.

CodeWare Limited

APAC software company brings on first VP of growth

Read more

This article highlights Gartner’s latest digital experience platforms report and how they are influencing content operations ecosystems. ...

vikram Roy

Gartner 2022 Digital Experience Platforms reveals leading vendor players

Read more

Blog Posts

​Why we need to look at the whole brand puzzle, not just play with the pieces

Creating meaningful brands should be a holistic and considered process. However, all too frequently it’s one that is disparate and reactive, where one objective is prioritized at the expense of all others. So, what are the key pieces to the ‘good’ brand puzzle?

Marketing overseas? 4 ways to make your message stick

Companies encounter a variety of challenges when it comes to marketing overseas. Marketing departments often don’t know much about the business and cultural context of the international audiences they are trying to reach. Sometimes they are also unsure about what kind of marketing they should be doing.

Cynthia Dearin

Author, business strategist, advisor

From unconscious to reflective: What level of data user are you?

Using data is a hot topic right now. Leaders are realising data can no longer just be the responsibility of dedicated analysts or staff with ‘data’ in their title or role description.

Dr Selena Fisk

Data expert, author

Sign in