Rokt, the US-based e-commerce marketing software provider backed by media company Time, raised $48m in series C funding yesterday from investment firm TDM Growth Partners and unnamed existing backers.
Founded in Australia, Rokt provides technology intended to boost sales for e-commerce platforms by helping them offer relevant options that may interest customers and extend engagement.
The series C proceeds will go to research and development, as the company looks to make its tools more intelligent. It said while disclosing the latest round that it is on course to generate $100m in revenue this year.
TDM partner Tom Cowan is joining Rokt’s board of directors along with Steve Krenzer, chief operating officer of online deals and coupons provider Groupon.
Rokt completed a $26m series B round in-mid 2017 in which Time joined Moelis Australia, a fund manager subsidiary of investment bank Moelis and Company, as well as Square Peg Capital, John Ho, Lachlan Murdoch and Greg Roebuck.
The latter four had previously provided $8m in series A funding for the company in 2013, and it confirmed this week it has raised $82m since being founded in 2010.
