AdRoll Raises $15 Mil To Up Real-Time Reach
Despite what many have criticized as a “creepy” factor, ad retargeting is now big business. Indeed, brands can’t seem to get enough of the technology, which helps them target
display ads based on consumers’ previous Web-surfing activity.
It’s little surprise, then, that AdRoll just raised $15 million from some top-tier investors, including Foundation Capital, Merus Capital and Accel Partners.
“We are excited to further shape how all brands collect, analyze and act on marketing data," Aaron Bell, AdRoll founder and CEO, said regarding the new investment.
With the funds, AdRoll plans to improve and scale its services, which Bell adds are in particularly high demand among enterprise, midsize and small organizations. Specifically, AdRoll plans to invest in increasing real-time inventory reach and rolling out more intuitive products in mobile, video and social.
Francisco-based company already boasts over 5,000 customers worldwide, and claims to be adding nearly 500 new customers per month. AdRoll says it grew revenue over 400% last year, and achieved
profitability for the first time in its history.
Last month, AdRoll was selected as one of a number of demand-side partners to run ads on the newly announced Facebook Exchange. Along with AdRoll, partners include AppNexus, DataXu, MediaMath, TellApart, Triggit, Turn and The Trade Desk.
Facebook is now encouraging advertisers to retarget audiences on the site, based on their browsing history across others. To execute this strategy, the company has reportedly started placing cookies on the Internet browsers of its users, which its technology partners are using to identify members of the social network.