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

Latest Videos

Conversations over a cuppa with CMO: Jeremy Nicholas, Telstra CMO

​The current global COVID-19 pandemic is resulting in unprecedented disruption to every aspect of our lives as marketing and brand professionals, from the ways we work, to how our organisations operate, and the way in which we acquire and engage customers. So we’ve drawn on our wonderful CMO50 alumni community to explore different aspects of the crisis facing all of us right now. In our first episode, we catch up with Telstra chief marketing officer, Jeremy Nicholas, on how he's helping the telco navigate the crisis and meet customer demand.

More Videos

Why these voice assistants are so popular nowadays? Maybe I should get one too? I am really curious.

Jill Kim

Aussie brands jump on voice-interaction bandwagon following Amazon Alexa's local launch

Read more

Your page is very helpful. Thank you for sharing with us

Eriona Ajvazi

10 brands making a positive difference to a world in crisis

Read more

Extremely insightful and well written. Thanks for the great article!

Nicole Brodie Nahum

Why COVID-19 makes it more important than ever to move at the speed of the consumer

Read more

Blockchain is one of the fastest growing technology in today's digital era. Industries like banking and finance are already using blockch...

Aniket Singh

Can blockchain deliver on its big advertising promises?

Read more

Great article Emma. So many gems in there. Awesome to have you in the team!

One Small Step Collective

Why COVID-19 makes it more important than ever to move at the speed of the consumer

Read more

Blog Posts

The gear change required for business during COVID-19

The current world pandemic, COVID-19, and its tragic effects has created different and challenging situations for nearly every business. Every business sector is affected differently, depending on the nature of what your place in the world, creating the most unique situation most of us have ever and will ever experience during our professional lives.

Katja Forbes

Managing director of Designit, Australia and New Zealand

How can organisations debias their decisions?

​People whose personal details and experiences signal they come from racially diverse backgrounds are less likely than anglo or Caucasian candidates to make it through the first cut in recruitment processes. Even if the organisation says it values diversity.

Dr Karen Morley

Author, commentator

Is your marketing team adapting quickly enough to the COVID-19 crisis?

The impact of coronavirus is far reaching with the true impact on the economy and businesses is unknown. While there are a few categories and brands experiencing growth, for the most part the crisis is wreaking havoc for large and small operators across many sectors including entertainment, tourism, retail, fitness, services and the list goes on.

Teresa Sperti

Founder, Arktic Fox

Sign in