Digital marketing company ROKT, run by former Jetstar chief executive Bruce Buchanan, has completed a $15 million Series "B" investment led by Moelis Australia Asset Management.
Moelis joined existing investors including John Ho, Lachlan Murdoch, Greg Roebuck and the James Packer backed Square Peg Capital.
ROKT will use the investment to accelerate development of its market-leading transaction marketing technology, expand its management ranks, ramp up international market growth as well as acquire strategic assets that will strengthen its value proposition.
“ROKT is uniquely positioned at the intersection of digital media and commerce," said John Ho, Janchor Partners' Chief Investment Office.
"Both areas are showing enormous growth, with e-commerce on track to be a $3 trillion market in the next few years and performance-driven digital media achieving double digit growth. ROKT is right in the middle of these two areas of immense growth. Its own growth potential is significant and I remain confident it will be fully realized."
“This funding round is all about stepping up the speed and scale of ROKT's growth. It comes at a time when ROKT is experiencing dramatic momentum worldwide,” said CEO Bruce Buchanan. “It gives us the opportunity to build upon our dynamism as well as achieve more and better outcomes for our clients and partners.
“Over the past year ROKT expanded its presence in the United States, growing revenue there eightfold, entered the Canadian market, launched operations in the United Kingdom, made key hires for critical roles and increased headcount in all segments of the business. ROKT is a very different company from just a couple of years ago when we operated out of a single office in the suburbs of Sydney,” Mr Buchanan said.
Impressive client list
ROKT has worked with over 2,000 clients, including such brands as eBay, Ticketmaster, Expedia, Hotels.com, Time Inc, Groupon, Dominos and Emirates to help achieve better online commerce results by improving customer engagements and delivering meaningful native monetization.
ROKT also works with thousands of performance marketers focused on acquiring large numbers of new customers at the point of transaction.
Time Inc. became an investor in this round after its Synapse unit worked with ROKT over the past 12 months driving significant business results.
“Time Inc. is pleased to invest in ROKT. As a customer, we have had a great experience with ROKT’s technology and platform and have seen, first-hand, its ability to impact the marketplace. From the perspective of a customer, the ROKT partnership is a success for us,” said Erik Moreno, Time Inc.'s Executive Vice President and President, Corporate Development, New Ventures & Investments.
Vision for the future
"We look forward to working with Bruce and his team as they execute on their vision for the future of digital marketing and commerce."
ROKT has been able to yield three times greater returns than other digital channels.
Paul Bassat, Square Peg's Co-founder said: "Since our investment in ROKT we have seen the business improve on every dimension: the product has evolved significantly; the value delivered to advertisers and e-commerce operators has grown dramatically; and, most importantly, Bruce's team has gone from strength-to-strength.
"Our participation in this round reaffirms our belief that ROKT is on a path to truly alter how brands acquire and engage with customers in a way that will yield unmatched results."
ROKT has offices in New York, Los Angeles, London, Sydney, Melbourne, Auckland and Singapore.
Its digital referral technology is integrated into the transaction flows of all its partners, giving advertisers access to consumers when they are actually undertaking an online transaction.
In Australia, the company has partnerships with the likes of Carsales, Virgin Australia-owned Tigerair and Australia Post.
For more information: www.rokt.com