Digital referral marketing firm ROKT today announced the conclusion of a $26 million Series B funding round, led by ASX-listed Moelis Australia Ltd. John Ho, Lachlan Murdoch, Greg Roebuck, Square Peg Capital and NYSE-listed Time Inc. also participated in this investment.
ROKT had earlier raised $15 million in February 2017 as part of its Series B round and raised an additional $11 million recently. The firm said the investment process was structured this way to facilitate its acquisition of strategic assets to broaden its offering as well as accelerate its global growth.
ROKT acquired CalReply shortly after the February instalment of the Series B round. The company also expanded its team, hiring managing directors to spearhead its expansion in EMEA and APAC, and advanced its technology platform to deliver more and better results for advertisers and e-commerce partners in the company’s global network.
ROKT caters to e-commerce operators by applying its algorithmic engine to optimise customers’ journeys as well as monetise underutilised portions of their websites. This allows it to aid performance marketers to engage with and acquire customers at scale when they’re most receptive, such as when they have made an online transaction from a trusted brand. Its customers include eBay, Ticketmaster, Live Nation, Gumtree, AXS, Dominos and Kogan, among others.
“This US$26 million funding round is one of the biggest this year for an Australian company,” said Tushar Roy, a Square Peg Capital Partner. “It represents more than investor confidence in the company. It serves as a reaffirmation of our belief that ROKT will persist to gather speed along its path to becoming a company that profoundly changes the way brands acquire and convert customers worldwide.”