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https://www.wsj.com/articles/rokt-raises-325-million-as-it-preps-for-planned-ipo-11639656002


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 * CMO Today


ROKT RAISES $325 MILLION AS IT PREPS FOR PLANNED IPO


THE E-COMMERCE MARKETING TECHNOLOGY COMPANY SAID THE FUNDING ROUND, LED BY TIGER
GLOBAL MANAGEMENT, VALUES THE COMPANY AT $1.95 BILLION

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ROKT, A NINE-YEAR-OLD E-COMMERCE MARKETING SOFTWARE PROVIDER, RAISED $325
MILLION IN NEW FUNDING.

Photo: Rokt
By
Megan Graham
Dec. 16, 2021 7:00 am ET

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Rokt Pte Ltd., which develops marketing technology for online shopping, has
raised $325 million in Series E funding as it prepares for a planned initial
public offering.

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New York-based Rokt says its technology is used by more than 3,000 companies
including Wayfair Inc., Live Nation Entertainment Inc. and Fanatics Inc. to
personalize e-commerce offers for consumers.

The funding round, led by investment firm Tiger Global Management, values the
company at $1.95 billion, Rokt said. A round last year valued the company at
about $450 million. Rokt is targeting an initial public offering in the U.S. in
2023, Chief Executive Bruce Buchanan said.

Rokt said it expects to finish the year with $230 million in revenue, up from
$100 million last year, when business from marketers in travel and entertainment
was hurt by the pandemic. However, the pandemic also encouraged consumers’
adoption of e-commerce, creating more opportunities for Rokt’s services in the
long run, the company has said.

ROKT CEO BRUCE BUCHANAN

Photo: Rokt

Privacy changes, including one introduced by Apple Inc. earlier this year,
restricting how users are tracked on mobile devices has created another
tailwind, Mr. Buchanan said.



“That has meant businesses like ourselves that help first-party [data] companies
like Ticketmaster use their own data in a smarter way, have really flourished,”
Mr. Buchanan said. “This world of handing your data out to a lot of third-party
players and not knowing where it goes is disappearing very quickly. Yet
marketers still want to reach audiences, and the number of channels is less and
less all the time.”

The company has investors in the Asia-Pacific region, Mr. Buchanan said, but
didn’t have many major investors in the U.S. before the new round, which also
included Wellington Management, Whale Rock Capital Management, Pavilion Capital
and existing shareholder Square Peg.

Mr. Buchanan said having investors in the region should benefit an IPO in
numerous ways, including helping others understand Rokt’s business.

“We wanted to do one big final round to get our shareholders aligned to U.S.
capital markets,” he said.

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There has been a streak of deals and public offerings from companies in the
advertising- and marketing-technology industry. Viant Technology Inc., AppLovin
Corp. and DoubleVerify Holdings Inc. have gone public in 2021, among a slew of
others.

Rokt plans to use the funding in part to make acquisitions, with a focus on
companies that operate in e-commerce but in different geographies, industries or
customer segments than Rokt does so far.

The company also plans to invest in research and development and in hiring. The
company employs nearly 400 people, with plans to grow staff to more than 550 in
2022.

Write to Megan Graham at megan.graham@wsj.com

Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved.
87990cbe856818d5eddac44c7b1cdeb8



Appeared in the December 17, 2021, print edition as 'Rokt Raises $325 Million as
It Prepares for IPO.'






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