Moelis leads Series B for Australia's Rokt
Rokt, an Australia-based start-up that provides digital marketing services to e-commerce companies, has received a $15 million Series B round of funding led by Moelis Australia Asset Management.
Several existing investors, including Square Peg Capital, Lachlan Murdoch of News Corp. and 21st Century Fox, Carsales co-founder Greg Roebuck, and John Ho of Hong Kong’s Janchor Partners, re-upped in the company, while Time Inc. came in as another new backer. The capital will go towards technology development, team building, international growth initiatives, and acquisitions.
Rokt, which raised $8 million from Square Peg, Murdoch, Roebuck and Ho in 2013, helps companies achieve better e-commerce performance through improved customer engagement and delivering meaningful monetization. It also works with thousands of performance marketers focused on acquiring large numbers of new customers at the point of transaction.
The company has worked with more than 2,000 clients, including eBay, Ticketmaster, Expedia, Hotels.com, Groupon, Dominos, Emirates and GrubHub. It claims to have improved the latter’s customer conversion rate by 600% across key demographics. Time Inc. is also a client, having worked with Rokt over the past 12 months.
"Over the past year Rokt expanded its presence in the US, growing revenue there eightfold, entered the Canadian market, launched operations in the UK, made key hires for critical roles and increased headcount in all segments of the business. Rokt is a very different company from just a couple of years ago when we operated out of a single office in the suburbs of Sydney," Bruce Buchanan (pictured), Rokt’s CEO, said in a statement.
Moelis is a global independent investment bank that provides innovative strategic advice and solutions to a diverse client base, including corporations, governments and financial sponsors. Square Peg is currently in the market raising A$200 million ($154 million) for its debut Australia VC fund. It is said to have received backing from superannuation funds and high net worth individuals.
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