Rokt, a US-headquartered e-commerce software producer that counts magazine publisher Time as an investor, has secured $80m in its series D round, the Wall Street Journal has reported.
The round was led by investment firm TDM Growth Partners and also featured venture capital fund Square Peg Capital. It valued Rokt at $450m and increased the company’s overall funding to at least $162m.
Founded in Australia in 2012, Rokt produces software intended to help personalise online transactions and potentially drive further sales, for example suggesting additional actions or tie-ins once a customer has completed a purchase.
Bruce Buchanan, co-founder and CEO of Rokt, told WSJ: “E-commerce transactions require a lot of third parties to come together in the transaction moment. Trying to make it personalised for the end customer was almost impossible – that was the problem we set out to solve.”
The company also runs an online marketplace where e-commerce businesses can locate vendors. It said it has been profitable since 2014 and will put the series D funds into product development.
TDM Growth Partners and undisclosed existing investors had provided $48m for the company through an October 2019 series C round. Moelis Australia led its $26m series B, which closed in 2017 with backing from Time, Square Peg Capital and various individuals.
