HookLogic, the leader in performance marketing for brands, today announced a $15.5 million Series C growth round from new investors Fung Capital and Mousse Partners, in addition to participation from existing investors Bain Capital Ventures and Intel Capital.
Concurrent with the financing, HookLogic also announced the sale of its AutoHook division to Urban Science, a global provider of analytical solutions that helps automotive OEMs and their dealers improve sales and customer loyalty.
The announcements follow two years of rapid growth for the company, which has taken a unique approach to performance marketing by integrating native search advertising into leading ecommerce sites.
Thousands of brands use HookLogic’s performance marketing platform to target shoppers on the largest commerce sites in retail and travel, including Walmart, Target, Best Buy, Macy’s, Costco, Argos, Expedia and Priceline, among many others.
“Our new investors bring deep industry knowledge and expertise to support our next wave of growth,” said Jonathan Opdyke, CEO of HookLogic. “The combination of this investment and proceeds from the divestiture will enable us to accelerate international expansion and invest in technologies that will revolutionise ecommerce and digital advertising, including huge innovations in mobile.”
Fung Capital USA, which focuses on investing in technologies that enable omni-channel commerce and improve supply chain efficiency, is a private investment arm of the families of Victor Fung and William Fung who are the controlling shareholders of the Fung Group. The Fung Group is Hong Kong based and is comprised of public and private companies including Li & Fung, a key supply chain partner of many retailers and brands, as well as Global Brands Group, one of the world’s leading companies for branded apparel, footwear, and fashion accessories.
HookLogic’s platform has grown to span more than 160 of the world’s largest ecommerce sites in 69 countries, with access to more than $90 billion in ecommerce sales for brand sales attribution.
In the U.S., HookLogic‘s retail network reaches more unique shoppers than Amazon.com, with web traffic expected to surpass Amazon in Q4 of 2015. HookLogic’s financial advisor on the sale of the AutoHook division was the Presidio Group.