Retargeting platform AdRoll has $70m to build out its capabilities after securing new funding.
Ad tech firms are currently racing to beef up financial firepower as the market heats up, with consolidation on the cards and a bunch of IPOs likely this year.
Video ad platform TubeMogul recently announced plans to go public in a bid to raise a similar amount. Meanwhile, the News Corp backed ad platform Rubicon Project is looking for $100m from an IPO led by Goldman Sachs and Morgan Stanley.
AdRoll CEO Aaron Bell said: “In just a few years, retargeting has become as essential as search engine marketing for every digital marketer. The new funding lets us hit the gas on our ambitious vision to more broadly become the one platform for companies to better understand their customers and reach them wherever they go.”
New investors include Institutional Venture Partners, Northgate Capital, Performance Equity and Glenmede. They join existing investors Merus Capital, Accel Partners and Peter Thiel.
AdRoll plans to use the new investment to expand its product portfolio and to deepen its cross-device offering to reach customers on mobile devices.
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