US-based transaction marketing platform Rokt completed a $15m series B round on Wednesday that included media group Time.
Fund manager Moelis Australia Asset Management, a unit of investment bank Moelis and Company, led the round, which also featured existing backers including investment firm Square Peg Capital and angel investors John Ho, Lachlan Murdoch and Greg Roebuck.
Founded in Australia in 2010, Rokt has built a platform that links advertisers to customers when they have made an online or mobile purchase, and are supposedly more receptive to additional marketing.
For example, if a customer has bought tickets to a performance at the Sydney Opera House, Rokt’s platform may place ads on their screen noting the booking and inviting the purchaser to reserve a meal at a nearby restaurant.
The series B capital will be used to speed up development of Rokt’s transaction marketing technology, bolster its management team, accelerate growth in international markets and acquire strategic assets.
Rokt currently has offices in New York, Los Angeles, London, Sydney, Melbourne, Auckland and Singapore. Time’s multi-channel marketing unit, Synapse, is already one of the company’s customers.
The round follows Rokt’s $8m series A round in 2013, which was backed by Square Peg, Ho, Murdoch and Roebuck, and which valued the company at $50m.