US-based transaction marketing platform Rokt closed a $26m series B round yesterday backed by media group Time, after raising $11m in the round’s second tranche.
The round was led by fund manager Moelis Australia, a division of investment bank Moelis and Company, and included investment firm Square Peg Capital and angel investors John Ho, Lachlan Murdoch and Greg Roebuck.
All the investors participated in the round’s $15m first close in February 2017, but Rokt did not specify which of them returned to provide the additional capital.
Founded in 2010, Rokt operates a platform that connects advertisers with consumers following an online purchase in order to recommend additional products.
The series B round will boost Rokt’s ability to make strategic acquisitions and accelerate its international growth. The company acquired calendar marketing provider CallReply following the round’s first close.
Rokt had previously closed an $8m series A round in 2013 backed by Square Peg, Ho, Murdoch and Roebuck.
Bruce Buchanan, chairman and chief executive of Rokt, said: “All of us at Rokt are appreciative of this latest vote of confidence from our investors. It serves to further step up our efforts, sharpen our focus and continue to execute flawlessly at the intersection of digital marketing and e-commerce.”