Krux Raises $35 Million in Series B Funding
KRUX RAISES $35 MILLION IN SERIES B FUNDING TO ACCELERATE INTERNATIONAL EXPANSION OF ITS DATA MANAGEMENT PLATFORM
SAP Ventures Leads Round; Time Warner Investments, Visionnaire Ventures and Temasek Join Existing Investors Accel Partners, IDG Ventures and The Entrepreneurs Fund
SAN FRANCISCO and NEW YORK, June 10, 2014 – Krux (www.krux.com), a global leader in cloud-based data management, has raised $35 million in Series B funding.
The round was led by SAP Ventures and includes three additional prominent new investors – Time Warner Investments, Visionnaire Ventures and Temasek– and all of the existing investors – Accel Partners, IDG Ventures and The Entrepreneurs Fund. In total, Krux has raised $50 million since its inception in 2010. Proceeds will be used for a rapid expansion of its global sales and support teams as well as research and development initiatives.
Krux’s cloud-based data management platform (DMP) helps marketers and publishers improve revenue and engagement with customers through the delivery of personalized, real-time marketing and advertising experiences as they navigate from their laptops to tablets to smartphones to connected TVs and back again.
“In the last year, our cross-screen DMP has enjoyed accelerated growth and marketplace penetration with more than 1.6 billion unique monthly users including some 300 million mobile devices,” said Tom Chavez, co-founder and CEO, Krux. “We already operate seven offices across four continents supporting more than 100 enterprise clients. Data management is fast becoming the center of the enterprise marketing stack. With the support of our original and new investment partners, we will gear-up aggressively to address this significant marketplace opportunity.”
SAP Ventures is an independent investment organization affiliated with SAP AG. Its CEO and managing director, Nino Marakovic, will join Krux’s board.
“SAP Ventures looks forward to partnering with Krux on its mission of equipping enterprises to take full advantage of the latest data-driven marketing and advertising strategies,” said Mr. Marakovic. “Krux is at the forefront of big data revolutionizing modern marketing, and we believe the company has positioned itself for dramatic growth. We are delighted to support Tom and the Krux team as they build an industry-leading company.”
“We believe brands are built and sustained through the strength of relationship they enjoy with consumers, and rich data is playing an increasingly important role in fueling insights, ideas and activation plans that engage consumers with exceptional brand experiences. The future of marketing is data-driven, and we think of Krux as our control center for data-driven marketing at Kellogg's,” said Jon Suarez-Davis, VP Global Media & Digital Strategy at Kellogg Company. “While there are many alternatives for data management out there, Krux offers the most compelling combination of actionable insights, differentiated technology, and future-proofing for tomorrow's high-velocity marketing challenges. We're pleased to support Krux's build-out and excited to see them making such fast inroads with us and other marketing clients."
"As the premier choice for marketers seeking to reach 100 million American women – including 60 percent of all millennial women – it is crucial that Meredith fully comprehends what women are telling us about their desires, affinities and aspirations,” said Meredith Corporation Chairman and CEO Steve Lacy. “Krux gives us the technology firepower to capture that information, make sense of it, and then take action using it on any screen, on any medium and at every moment. Krux plays a critical role in assisting us in delivering meaningful experiences to women across all life stages, and more valuable media results for our marketing partners.”
According to eMarketer, digital ad spending is expected to surpass $137 billion in 2014, an increase of 14.8 percent over 2013. With the shift from traditional advertising to digital, Krux believes the opportunity for data-driven marketing will increase proportionately and be a boon to data management solution providers.
About SAP Ventures
SAP Ventures, with more than US$1.4 billion under management, is an investment firm that seeks to partner with outstanding entrepreneurs and leading venture firms worldwide to build industry-leading businesses. SAP Ventures is an independent investment organization affiliated with SAP AG, the leading global enterprise software company. SAP Ventures leverages its relationship with SAP and its ecosystem for the benefit of its portfolio companies and underlying fund managers. SAP Ventures was founded in 1997 and has invested in more than 125 companies across five continents. For more information, please visit www.sapventures.com and follow us on Twitter @SAP_Ventures.
About Time Warner Investments
The Time Warner Investments group was founded in 2003 and focuses on investment opportunities that directly enhance Time Warner’s ability to meet specific strategic goals. These strategic goals include the delivery of new services, enhancement of an existing product, entry or expansion into a key strategic market, completion of a strategic partnership, and critical research and development.