Rokt Announces Secondary Transaction, Increasing Valuation to $2.4 Billion
Today, Rokt announced a secondary transaction led by Square Peg and Wellington Management that increased Rokt’s valuation to US$2.4 billion, less than 12 months since we raised US$325 million in our Series E fundraising round.
“Despite broader market declines in valuations, we continue to see rapid growth in Rokt driven by new ecommerce partners and an uplift from advertisers,” said Bruce Buchanan, CEO of Rokt. “Due to the challenging economic climate, ecommerce companies are focusing on more relevant customer experiences that improve economics and deliver new revenue. This has further propelled Rokt’s growth and we’re pleased to see this expression of support from existing investors as Rokt looks towards an IPO.”
During 2022, we announced multiple significant new partnerships, including with Uber and AMC Theatres. We’re continuing to hire for roles across its business globally and have plans to open a second North American product development center on the West Coast in 2023. If you’re interested in joining Rokt, see our open roles.
“We’re thrilled to have the opportunity to further invest in Rokt, a business that offers its clients extraordinarily high revenue retention,” said Paul Bassat, Co-founder and Partner of Square Peg. “The company’s continuing success and profitability are a testament to the strength of its core business and impressive leadership team helmed by Bruce Buchanan.”
“Rokt has continued on its rapid growth trajectory despite industry headwinds and, we believe is well positioned to thrive amid ongoing market challenges,” said Prakhar Singh, Principal, Wellington Management. “We’re proud of our investment in Rokt and excited to see the company prepare for its IPO.”
“We continue to be impressed by the execution of Bruce and his team. Seeing the business perform as strongly as it has, given the macro environment, is a testament to the quality of the product and the value Rokt provides to its customers.”
Rokt celebrates 10 years of unleashing relevancy in ecommerce this month and we’re grateful for our Rokt’stars, clients, investors, and partners for their ongoing support. We look forward to the next decade as we continue disrupting the ecommerce industry. Read the coverage from the Information here and the full press release here.