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Magazine SECTIONS * Fashion * Art & Design * Travel * Food * Culture * Sports SECTIONS * Beijing 2022 Olympics * MLB * NBA * NFL * Golf * Tennis * Soccer COLUMNS * Jason Gay Search Search https://www.wsj.com/articles/rokt-raises-325-million-as-it-preps-for-planned-ipo-11639656002 Share * Facebook * Twitter * LinkedIn * Copy Link * 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 The Wall Street Journal Continue reading your article with a WSJ membership. Special Offer Less than US $1/week View Membership Options 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 Print Text Your browser does not support the audio tag. Listen to article Length 3 minutes AD Loading advertisement... 00:00 / 03:19 1x This article is in your queue. Open Queue 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. -------------------------------------------------------------------------------- NEWSLETTER SIGN-UP WSJ | CMO TODAY CMO Today delivers the most important news of the day for media and marketing professionals. PREVIEW SUBSCRIBE -------------------------------------------------------------------------------- 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. MORE FROM CMO TODAY * Streaming Audio Climbs the Charts With Marketers, but Some Want More Certainty March 25, 2022 * Metaverse Fashion Week Draws Big Brands, Startups March 24, 2022 * Technology Alliance Says It Is Closer to Killing Off Passwords March 22, 2022 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.' * NFTS KICK SPORTS MEMORABILIA INTO THE DIGITAL AGE Nonfungible tokens (NFTs) are giving sports leagues, teams, and athletes the ability to generate new revenue streams and increase fan engagement. Several strategies can help rights holders build an effective NFT platform. * HOW CMOS AND CFOS CAN ALIGN ON LOYALTY PROGRAMS * PCS, TVS SEE STRONG SALES GROWTH DURING PANDEMIC CONTENT FROM OUR SPONSOR: DELOITTE The Wall Street Journal news department was not involved in the creation of this content. 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