AdRoll collects $15m in funding round
11 July 2012
Online ad retargeting specialist AdRoll has secured $15m in funding to scale its business.
The funding round was led by Foundation Capital and it includes funding from Merus Capital and Accel Partners who have invested in the company before.
AdRoll allows its clients to show ads to users who have already visited their websites in order to coax them into making a purchase. It does this through capturing anonymous data from a marketer’s website and buying appropriate inventory on ad exchanges to remind users of their interest in the marketer’s products or services.
The funding will be used to increase its real-time inventory reach, required for effective retargeting, and to help roll out new products in video, social and mobile. It will also open new international and regional offices and work on growing the team at its San Francisco headquarters.
The company currently has 85 employees and provides services to approximately 5,000 active advertisers with large brands including Microsoft, American Apparel and Netsuite.
"Our core strength has always been a fanatical devotion to product innovation, which has led to our large and enthusiastic user base, says AdRoll founder and chief executive Aaron Bell. “With the new resources, we are excited to further shape how all brands collect, analyze and act on marketing data.”
AdRoll was one of the first companies to run ads on Facebook’s new ad platform, Facebook Exchange, which launched last month.
"Nearly every brand selling goods or services online now recognizes retargeting as an essential marketing tool and AdRoll has the best-in-breed platform and visionary team to execute at massive scale,” says Foundation Capital general partner Charles Moldow.
David Hing, London