Kenshoo Set to Announce $20 Million Financing Score
ADOTAS — Kenshoo plans to formally announce tomorrow that it has secured $20 million in a growth financing round led by Bain Capital Ventures and including existing investors Sequoia Capital, Arts Alliance, and Tenaya Capital. Bain Capital partner Deepak Sindwani (pictured) is expected to join Kenshoo’s board of directors.
The company plans to use the funding “to further disrupt the digital marketing technology space with its proprietary approach to predictive media optimization,” according to a source close to the company.
Earlier this week, Kenshoo announced that its Halogen solution, which it bills as “the world’s most advanced and accurate predictive modeling engine,” had emerged from beta.The company reports that during the testing period for Halogen, clients were able to increase revenue by 53% and investment by 36% across 90+ budget plans.
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