Sydney-headquartered e-commerce marketing technology company Rokt has raised $48 million in a Series C funding round from global investment firm TDM Growth Partners and its existing investors, according to an announcement.
The funding round, which brings the total investment in Rokt to $82 million, will help accelerate the company’s research & development work.
Rokt, founded by former Jetstar boss Bruce Buchanan in 2012, is currently present in 11 countries and claims to have a headcount of over 220 employees worldwide. Its clients include Live Nation, Staples, Groupon, GoDaddy, Expedia and Wells Fargo.
The company enables e-commerce firms to promote goods that are not selling, besides personalising offers for complimentary products for customers after they have completed a transaction.
Rokt recently made headlines for acquiring B2B marketplace OfferLogic.
TDM’s investment “will allow us to accelerate our investment in research & development to deliver our clients smarter e-commerce solutions and better experiences for their customers,” said Bruce Buchanan, CEO of Rokt.
TDM partner Tom Cowan added: “We look forward to supporting Rokt as they drive forward world-class technology to transform e-commerce.” With the transaction, Cowan is set to join the Board of Directors of Rokt.
TDM Growth Partners, that has the ability to deploy capital up to $125 million per investment, has around 15 investments globally. Its portfolio companies include Twilio, LiveRamp, and Mindbody in the US, as well as Tyro, Aconex and CultureAmp in Australia.