Disrupting the digital marketing technology space is the priority for media optimisation firm, Kenshoo, after it secured a fresh chunk of investment.
Led by Bain Capital Ventures, with existing investors Sequoia Capital, Arts Alliance, and Tenaya Capital also participating, the $20 million will be injected into Kenshoo at a time when it delivers more than one trillion digital advertisements each year.
More than $200 billion in online client sales revenue are tracked annually, which is what attracted Bain, according to one of the firm’s partners, Deepak Sindwani, who will also be joining Kenshoo’s board of directors.
“We are very impressed with Kenshoo’s market-leading platform for predictive media optimisation and its track-record with the world’s largest and most sophisticated digital marketers,” Sindwani said.
“Kenshoo’s stellar customer base, innovative product roadmap and technology leadership, impressive growth trajectory, and team were all key drivers for our investment.”
Halogen, Kenshoo’s predictive modelling engine that recently emerged from beta, is said to have helped marketers increase revenue by 53% and investment by 36% across more than 90 budget plans.