AdRoll raises $US70 million, Australian expansion continues

The world’s largest advertising retargeting platform — AdRoll — has secured $US70 million in funding in a round lead by Foundation Capital and which includes investors such as Institutional Venture Partners (IVP), Northgate Capital, Performance Equity and Glenmede.

With the new money secured, priorities include cross-device integration and further global expansion.

Display advertising via real-time bidding is expected to grow into a $US9 billion market by 2017, so the name of the game for companies like AdRoll is to scale quickly. Australian managing director Ben Sharp told Which-50 “Over the last year, Australia has exploded into one of the fastest growing markets for AdRoll, and our vision remains ambitious. Over the next 12 months our priorities are to solidify a team of 20 local employees and to continue to grow our expanding Australian customer base.”

Sharp said the company considers Australia an early battleground for retargeting leadership in APAC. He claimed no-one else in the local market was able to provide the same solution from the SMB sector through to enterprises and agencies.

 

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(AdRoll’s Ben Sharp)

In a statement accompanying the funding announcement Aaron Bell, AdRoll CEO, said “In just a few years, retargeting has become as essential as search engine marketing for every digital marketer.”

According to Bell, “The new funding lets us hit the gas on our ambitious vision to more broadly become the one platform for companies to better understand their customers and reach them wherever they go. It’s a pleasure to both bring back the close-knit investor team that has helped us scale and welcome new investors with exceptional late-stage and public experience.”

AdRoll, which says it has 15,000 customers in more than 100 countries, has a revenue run rate that puts it in the ball bark of $US150 million a year. “Every month, AdRoll’s algorithms make more than 50 billion ad bidding decisions based on the shopping behaviour of over 500 million unique shoppers.”

The company claims this is more activity than even Amazon sees.

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