TDM Growth leads $48m Series C for Australia's Rokt
TDM Growth Partners, an Australian GP that invests across public and private companies, has led a $48 million Series C round for local marketing technology supplier Rokt.
Existing investors also participated in the round, although they have not been identified. Rokt raised a $26 million Series B led by Moelis Australia Asset Management in 2017 and received earlier support from the likes of Square Peg Capital and Time Inc.
Previous individual investors include John How of Hong Kong's Janchor Partners, Lachlan Murdoch of US-based News Corp and 21st Century Fox, and Greg Roebuck, co-founder of Australian online auto marketplace Carsales. The Series C brings the company's total funding to $82 million to date.
"As we close out our strongest year on record, with over $100 million in revenue, we're delighted to bring on TDM Growth Partners as not only an investor but a long-term strategic partner," Bruce Buchanan, CEO of Rokt (pictured), said in a statement. "Their investment and strategic guidance will allow us to accelerate our investment in research and development to deliver our clients smarter e-commerce solutions and better experiences for their customers."
Founded in 2012, Rokt claims to help e-commerce companies improve customer targeting through technology that provides insights about every "transaction moment" and develops enhanced engagement techniques. This includes data-driven investigation into the emotions and behavior of consumers during the processing of shopping online as well as other digital activities. The company is active in 11 countries with more than 220 employees and claims to be profitable.
TDM invests in fast-growing companies via an evergreen pool of capital with capacity to make deployments of up to $125 million per deal. The firm, which also maintains an office in New York, aims to keep a tightly focused portfolio of no more than 15 companies globally. Recent activity in Australia includes participation in an $82 million Series E for Culture Amp, an enterprise technology provider focused on human resources and related operations
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