Digital marketing technology firm Kenshoo has raised US$20 million from private investors as it seeks to increase its share of the burgeoning growth in advertising spend on search and social budgets.
The Tel Aviv-headquartered firm received the funding in a financing round led by Bain Capital, while existing investors Sequoia Capital, Arts Alliance and Tenaya Capital also took part, said The Wall Street Journal. The funding round values Kenshoo between US$400 million to US$500 million.
Kenshoo’s decision to seek private funding indicates it’s unlikely to file for a public IPO this year, as investor appetite for new ad-tech and marketing stocks remains uncertain. Kenshoo will use the funds to accelerate its international expansion.
The company is expanding rapidly in Australia and has hired two former Facebook executives, Liam Walsh and Ruud Spierings, to spearhead growth in its Asia-Pacific operations.
Kenshoo has also unveiled its new predictive media engine, Halogen, which uses past performance of campaigns and a wide variety of market data to provide forecasts and scenario plans that can be automatically applied to in-market campaigns.
The Halogen predictive platform works with its targeting and bidding algorithms to provide digital marketers with automatic forecasting, informed planning, scenario execution, and active monitoring of their campaigns.
“Through an intuitive interface, marketers can determine how much more return can be produced with extra budget, how much revenue can be generated at different levels of spend, and how much potential a portfolio or single campaign has,” the company said.
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