Square Peg joins $80m Series D for Australia's Rokt
Square Peg Capital and TDM Growth Partners have joined an $80 million Series D round for Australia e-commerce marketing technology provider Rokt.
It follows a $48 million Series C last year led by TDM and brings the total funds raised to date more than $160 million, according to AVCJ Research. Rokt claims its valuation has improved 42% this year to $450 million due to stronger demand for e-commerce related to COVID-19.
Rokt specializes in technology that helps online retailers use transaction data to build their customer base and develop marketing strategies such as cross-selling and brand positioning. The company claims its B2B platform hosts 30 million users a month. Clients include Expedia, Groupon, and Staples. As of the Series C last year, it claimed annual revenue of about $100 million.
Rokt was founded in Sydney in 2012 and now has bases in 16 countries, including Singapore, Japan, New Zealand, and the US. Previous investors include Moelis Australia Asset Management, Time Inc, 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.
Square Peg first backed in Rokt in 2013 as part of an $8 million Series A and is now investing via its second fund, which closed last year at A$340 million ($242 million). The VC firm is currently raising its third fund, which received an initial A$350 million in June, taking assets under management to more than $1 billion. B2B services has proven a strong area of focus.
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