Digital marketing software provider Kenshoo announced that it raised $12 million in a late-stage financing round.
Kenshoo added that the funding will be used to support “ongoing double- and triple-digit annual growth rates” within its search marketing and social media business units, as well as to further penetrate key geographic markets, and to more aggressively create new opportunities for brands and agencies.
Kenshoo Co-Founder and CEO Yoav Izhar-Prato said:
Tenaya has had amazing success with such leaders as Kayak and Zappos, and we’re humbled to have them as partners. 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 always been motivated by creating unique solutions to marketing problems that others found too hard to tackle. With nearly one-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.