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Kenshoo Secures $12 Million Late Stage Funding for Opportunistic Product Innovation and Global Expansion
LONDON, November 5, 2012 /PRNewswire/ --
Tenaya Capital leads round to accelerate technology solutions across
channels and devices for optimising social media, search marketing and beyond
Kenshoo [http://www.kenshoo.com ], the global leader in premium digital marketing
software, today announced it has raised $12 million in a late stage financing round led by
Tenaya Capital [http://www.tenayacapital.com ]. All existing Kenshoo investors, including
Sequoia Capital [http://www.sequoiacap.com ], Sequoia Growth Fund, and Arts Alliance
[http://www.artsalliance.co.uk ] participated in this latest round.
(Logo:
http://photos.prnewswire.com/prnh/20120907/559592 )
Kenshoo will use the funding to support ongoing double and triple digit annual growth
rates within its search marketing and social media business units as well as further
penetrate key geographic markets. The financing will also help Kenshoo more aggressively
create new opportunities for brands and agencies to address the entire purchase funnel
while driving revenue across channels and devices.
"The Kenshoo team is second to none and clearly on a path to building a large market
in a rapidly growing industry," said Tom Banahan, managing director of Tenaya Capital.
"Kenshoo's superior technology, focus on scale, and commitment to profitability made it a
clear choice for Tenaya to form a partnership and lead this round of financing."
"Tenaya has had amazing success with such leaders as Kayak and Zappos and we're
humbled to have them as partners," said Yoav Izhar-Prato, co-founder and chief executive
officer of Kenshoo. "The Tenaya team shares our core values around integrity and tenacity
so it was a natural cultural fit. We look forward to tapping their resources and expertise
to bring even more value for our clients, employees, and shareholders."
Kenshoo has a long track record with delivering first-to-market innovations in search
marketing including seamless website tracking
[http://www.kenshoo.com/Revolutionary_tracking_option ], transparent portfolio bid
optimisation [http://www.kenshoo.com/Next_generation_portfolio_bid_management ], back-end
inventory synchronization [http://www.kenshoo.com/RealTime_Campaigns ], local
mass-management [http://www.kenshoo.com/Kenshoo_Local_Announcement ] and a cross-channel
desktop editor [http://www.kenshoo.com/Kenshoo_Editor_PR ]. The agile development pace has
continued in 2012, with Kenshoo being the first search marketing technology platform to
release support for Google Product Listing Ads [http://www.kenshoo.com/PLA_PR ],
integration with leading Search Engine Optimisation platforms
[http://www.kenshoo.com/KenshooEnterprise4dot7PR ], bid automation for Baidu
[http://www.kenshoo.com/BaiduPR ] and portfolio optimisation for Yahoo! Japan
[http://www.kenshoo.com/KPOYahooJapan ].
Meanwhile, Kenshoo Social is one of only two companies in the world recently
designated as a Facebook Strategic Preferred Marketing Developer
[http://www.kenshoo.com/FBStrategicPMD ] with access to the Facebook Exchange. Now serving
more than one billion Facebook ads each day, Kenshoo Social helps marketers achieve brand
awareness and engagement goals with superior targeting and optimisation tools. This
offering complements the intent-driven nature of search to help marketers capture
customers throughout the purchase cycle and close the loop on cross-channel reporting and
attribution through the Kenshoo Universal Platform.
"Kenshoo has always been motivated by creating unique solutions to marketing problems
that others found too hard to tackle," added Izhar-Prato. "With nearly half of the Fortune
50 and all 10 top global ad agency networks using Kenshoo, our clients have always pushed
us to deliver scalable technology that keeps them on the cutting edge. We will continue to
push the boundaries of math and automation to deliver long-term success for our clients."
Industry projections forecast continued growth going forward for Kenshoo's addressable
market. The IAB Internet Advertising Revenue Report states that online advertising
revenues for the first half of 2012 climbed to an all-time high of $17 billion, a 14
percent increase year-over-year. Also, in Forrester's most recent US Interactive Marketing
Forecasts report, Forrester Research Vice President, Principal Analyst Shar VanBoskirk
reports that advertisers will spend $77 billion on interactive marketing by 2016 with
search marketing commanding 44 percent of that spend and social media growing at a 26
percent compound annual growth rate (CAGR) over a five-year period.[1]
"Kenshoo is an indispensable, independent control system for any marketer who wants to
be certain that every cent of an advertising budget is wisely used to reach customers via
search engines, social networks and other vital touch points," added Michael Moritz,
Chairman at Sequoia Capital.
About Kenshoo
Kenshoo is a digital marketing software [http://kenshoo.com ] company that engineers
technology solutions for search marketing, social media and online advertising. Brands,
agencies and marketing providers use Kenshoo Enterprise, Kenshoo Local and Kenshoo Social
to direct more than GBP16 billion in annual client sales revenue. The Kenshoo Universal
Platform delivers automation, intelligence, integration and scale to make better marketing
investments. With campaigns running in more than 190 countries, Kenshoo's UK clients
include Accor, Burberry, GroupM, Havas, John Lewis, Omnicom and Tesco. Kenshoo has 16
international locations and is backed by Sequoia Capital and Arts Alliance. Please visit
http://www.Kenshoo.com for more information.
Kenshoo is a trademark of Kenshoo Ltd. Other company and brand names may be trademarks
of their respective owners.
--------------------------------------------------
1. US Interactive Marketing Forecast, 2011 To 2016, Forrester Research, Inc., August
24, 2011
Photo:
http://photos.prnewswire.com/prnh/20120907/559592
Photo:http://photos.prnewswire.com/prnh/20120907/559592
http://photoarchive.ap.org/
Kenshoo
CONTACT: Contact: Pavitra Kumar, Senior Manager, Marcom and PR, +44-207-079-2462, Pavitra.kumar@kenshoo.com
Kenshoo Secures $12 Million Late Stage Funding for Opportunistic Product Innovation and Global Expansion
LONDON, November 5, 2012 /PRNewswire/ --
Tenaya Capital leads round to accelerate technology solutions across
channels and devices for optimising social media, search marketing and beyond
Kenshoo [http://www.kenshoo.com ], the global leader in premium digital marketing
software, today announced it has raised $12 million in a late stage financing round led by
Tenaya Capital [http://www.tenayacapital.com ]. All existing Kenshoo investors, including
Sequoia Capital [http://www.sequoiacap.com ], Sequoia Growth Fund, and Arts Alliance
[http://www.artsalliance.co.uk ] participated in this latest round.
(Logo:
http://photos.prnewswire.com/prnh/20120907/559592 )
Kenshoo will use the funding to support ongoing double and triple digit annual growth
rates within its search marketing and social media business units as well as further
penetrate key geographic markets. The financing will also help Kenshoo more aggressively
create new opportunities for brands and agencies to address the entire purchase funnel
while driving revenue across channels and devices.
"The Kenshoo team is second to none and clearly on a path to building a large market
in a rapidly growing industry," said Tom Banahan, managing director of Tenaya Capital.
"Kenshoo's superior technology, focus on scale, and commitment to profitability made it a
clear choice for Tenaya to form a partnership and lead this round of financing."
"Tenaya has had amazing success with such leaders as Kayak and Zappos and we're
humbled to have them as partners," said Yoav Izhar-Prato, co-founder and chief executive
officer of Kenshoo. "The Tenaya team shares our core values around integrity and tenacity
so it was a natural cultural fit. We look forward to tapping their resources and expertise
to bring even more value for our clients, employees, and shareholders."
Kenshoo has a long track record with delivering first-to-market innovations in search
marketing including seamless website tracking
[http://www.kenshoo.com/Revolutionary_tracking_option ], transparent portfolio bid
optimisation [http://www.kenshoo.com/Next_generation_portfolio_bid_management ], back-end
inventory synchronization [http://www.kenshoo.com/RealTime_Campaigns ], local
mass-management [http://www.kenshoo.com/Kenshoo_Local_Announcement ] and a cross-channel
desktop editor [http://www.kenshoo.com/Kenshoo_Editor_PR ]. The agile development pace has
continued in 2012, with Kenshoo being the first search marketing technology platform to
release support for Google Product Listing Ads [http://www.kenshoo.com/PLA_PR ],
integration with leading Search Engine Optimisation platforms
[http://www.kenshoo.com/KenshooEnterprise4dot7PR ], bid automation for Baidu
[http://www.kenshoo.com/BaiduPR ] and portfolio optimisation for Yahoo! Japan
[http://www.kenshoo.com/KPOYahooJapan ].
Meanwhile, Kenshoo Social is one of only two companies in the world recently
designated as a Facebook Strategic Preferred Marketing Developer
[http://www.kenshoo.com/FBStrategicPMD ] with access to the Facebook Exchange. Now serving
more than one billion Facebook ads each day, Kenshoo Social helps marketers achieve brand
awareness and engagement goals with superior targeting and optimisation tools. This
offering complements the intent-driven nature of search to help marketers capture
customers throughout the purchase cycle and close the loop on cross-channel reporting and
attribution through the Kenshoo Universal Platform.
"Kenshoo has always been motivated by creating unique solutions to marketing problems
that others found too hard to tackle," added Izhar-Prato. "With nearly half of the Fortune
50 and all 10 top global ad agency networks using Kenshoo, our clients have always pushed
us to deliver scalable technology that keeps them on the cutting edge. We will continue to
push the boundaries of math and automation to deliver long-term success for our clients."
Industry projections forecast continued growth going forward for Kenshoo's addressable
market. The IAB Internet Advertising Revenue Report states that online advertising
revenues for the first half of 2012 climbed to an all-time high of $17 billion, a 14
percent increase year-over-year. Also, in Forrester's most recent US Interactive Marketing
Forecasts report, Forrester Research Vice President, Principal Analyst Shar VanBoskirk
reports that advertisers will spend $77 billion on interactive marketing by 2016 with
search marketing commanding 44 percent of that spend and social media growing at a 26
percent compound annual growth rate (CAGR) over a five-year period.[1]
"Kenshoo is an indispensable, independent control system for any marketer who wants to
be certain that every cent of an advertising budget is wisely used to reach customers via
search engines, social networks and other vital touch points," added Michael Moritz,
Chairman at Sequoia Capital.
About Kenshoo
Kenshoo is a digital marketing software [http://kenshoo.com ] company that engineers
technology solutions for search marketing, social media and online advertising. Brands,
agencies and marketing providers use Kenshoo Enterprise, Kenshoo Local and Kenshoo Social
to direct more than GBP16 billion in annual client sales revenue. The Kenshoo Universal
Platform delivers automation, intelligence, integration and scale to make better marketing
investments. With campaigns running in more than 190 countries, Kenshoo's UK clients
include Accor, Burberry, GroupM, Havas, John Lewis, Omnicom and Tesco. Kenshoo has 16
international locations and is backed by Sequoia Capital and Arts Alliance. Please visit
http://www.Kenshoo.com for more information.
Kenshoo is a trademark of Kenshoo Ltd. Other company and brand names may be trademarks
of their respective owners.
--------------------------------------------------
1. US Interactive Marketing Forecast, 2011 To 2016, Forrester Research, Inc., August
24, 2011
Photo:
http://photos.prnewswire.com/prnh/20120907/559592
Photo:http://photos.prnewswire.com/prnh/20120907/559592
http://photoarchive.ap.org/
Kenshoo
CONTACT: Contact: Pavitra Kumar, Senior Manager, Marcom and PR, +44-207-079-2462, Pavitra.kumar@kenshoo.com