Digital marketing software developer Kenshoo Ltd. has raised $12 million. Tenaya Capital led the round, and was joined by current investors Sequoia Capital, Sequoia Growth Fund, and Arts Alliance. The company will use the proceeds to finance growth, expand in key markets, and create new products that address the entire purchase funnel (a consumer-focused marketing model that illustrates a theoretical customer journey toward purchasing a product).
Kenshoo has raised $30 million since it was founded by chairman and CEO Yoav Izhar-Prato.
Kenshoo develops marketing software solutions for search marketing, social media, and online advertising through its Kenshoo Enterprise, Kenshoo Local and Kenshoo Social products. It claims to manage more than $3 billion a year in search engine marketing, and to deliver more than 1.5 billion search marketing and 1 billion social marketing impressions a day. Clients include US jobs website CareerBuilder Inc., Facebook Inc. (NYSE: FP), UK ad agency, Havas Digital, US retailers John Lewis Inc., Sears Roebuck and Co., Walgreens Co. (NYSE: WAG), and Zappos; UK retailer Tesco plc (LSE: TSCO); online lending exchange LendingTree LLC (Nasdaq: TREE); media companies Omnicom Media Group Inc. (NYSE: OMC), Resolution Media, and Starcom MediaVest Group; and online travel agencies Expedia.com Kayak, and Travelocity.
Sequoia chairman Michael Moritz told "TechCrunch", "Any marketer who doesn’t use Kenshoo is burning hundred dollar bills. Kenshoo is the only internet company that provides advertisers with a neutral, unbiased way for shrewdly deploying budgets on the world’s largest search engines and social networks.
Published by Globes [online], Israel business news - www.globes-online.com - on November 4, 2012
© Copyright of Globes Publisher Itonut (1983) Ltd. 2012