Kenshoo on Wednesday will report closing $20 million in a venture capital funding round led by Bain Capital Ventures. The company's existing investors Sequoia Capital, Arts Alliance, and Tenaya Capital also participated in the round. The company plans to use the funds to further disrupt the digital marketing technology space with its proprietary approach to predictive media optimization.
Deepak Sindwani, partner, Bain Capital Ventures, who joins Kenshoo's board of directors, said the company's customer base, product roadmap, technology, growth, and team were key drivers for the investment. He calls attention to the company's predictive media optimization platform launched earlier this week.
Kenshoo delivers more than 1 trillion digital advertisements annually and tracks more than $200 billion in online client sales revenue.
Earlier this week, the company launched its Halogen solution after achieving high returns for brand marketers. During beta testing with more than 90 marketing plans, Kenshoo Halogen increased client sales revenue by 53% and digital marketing investments by 36%. It helped to reduce man hours spent on budget analysis, as much as 20%.
The predictive modeling engine powers several components of the Kenshoo platform to automatically optimize campaigns. An intuitive interface enables marketers to determine the amount of return from a specific budget. It also predicts the return of revenue per spend, and the potential a portfolio or single campaign offers.