The San Francisco-based company, which had previously raised $19 million, has expanded rapidly since launching in 2007 and become a leader in the retargeting space. AdRoll plans to use the investment to beef up its existing platform for mobile, and expand hiring at its headquarters as well as new offices in New York, Dublin and Sydney.
AdExchanger checked in with AdRoll CEO and founder Aaron Bell and President Adam Berke.
AdExchanger: You’ve just received $70 million in funding. Any new investors?
AARON BELL: There’s (Institutional Venture Partners). They’re a leading late-stage growth fund. It’s funded companies like Twitter, Dropbox, Marketo and Omniture. They have an amazing late-stage reputation and are known for their entrepreneur-friendly style.
I’ve known Eric Liaw, who’s going to be joining our board as an observer, for a number of years and he’s always been a great adviser. He has a brilliant mind for metrics, finance and scaling. He’s been very helpful for us.
We also have other late-stage investors such as Performance Equity, Glenmede and Northgate. They are funds that also make later-stage public investments. So they’re helpful in guiding us through the next stages of our company. (more…)