July 13, 2012, 3:17 PM

Retargeting platform vendor AdRoll raises $15 million

The vendor aims to use the money to fund technology development.

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Retargeting platform vendor AdRoll has raised $15 million in a funding round led by Foundation Capital.

AdRoll says it will use the money to fund its technology development. That includes finding new ways to expand the reach of its ads, as well as to launch mobile, video and social-focused products.

In addition to expanding product offerings, AdRoll will add more staff in its San Francisco headquarters and open new domestic and international offices.

"With the new resources, we are excited to further shape how all brands collect, analyze and act on marketing data," says Aaron Bell, AdRoll’s founder and CEO.

Previous investors Merus Capital and Accel Partners also took part in the funding round.

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