The average return on Facebook ad spend rises 26% in Q3, according to social media advertising firm Nanigans.
Kenshoo, which sells lead-generation services, plans to expand to social media advertising.
San Francisco, Calif. - July 28, 2010 Kenshoo, the leading provider of online demand generation SaaS solutions for the enterprise and local markets, announced today that it has secured a late-stage round of funding from Sequoia Capital’s Sequoia Growth Fund.
Over the past 24 months, Kenshoo has experienced exponential growth and achieved profitability, as well as more than doubling in valuation since 2009. The company has achieved this by consistently providing differentiated and quantifiable value to an increasing number of enterprise level clients all over the world, including many leading global online retailers and agencies.
Kenshoo’s holistic management and optimization platforms, Kenshoo Search and Kenshoo Local, provide advanced automation solutions for advertisers’ online demand generation needs across the largest media channels, including Google, Yahoo, Bing, Facebook, AOL, Baidu and Yandex. Built from inception as a global company, Kenshoo now operates from nine locations on four continents, including a recently added office in Sydney, Australia, and has immediate plans for expansion into additional strategic territories.
Since 1972 Silicon Valley-based Sequoia Capital has been providing early and growth stage venture capital to visionary executives who turn business ideas into sustainable companies of enduring value. Sequoia’s investments to date include Google, Yahoo, Apple, Cisco, Oracle and many others.
“Kenshoo is a proven company with great potential for growth in a large, highly dynamic market. With technology like Kenshoo, marketers in both the enterprise and local markets can finally measure how their online advertising budgets are driving revenue,” says Michael Moritz, Managing Partner, Sequoia Capital. “Until now, predicting ROI for brands and their agencies was about as reliable as predicting the weather. They are smart, profitable and have one of the best gross margins in the industry. The Kenshoo client roster includes multiple Fortune 100 companies and most of the top six global media agencies. This is a company pushing the technology envelope with an elite client list that characterizes the companies that we are proud to include in the Sequoia Growth Fund.”
Yoav Izhar Prato, CEO of Kenshoo, says, “We’ve built Kenshoo from the ground up to create measurable and uncompromising value for our partners in every aspect of their online marketing efforts. Our clients trust that, as we grow, our team and our technology will maintain the highest standards of integrity, quality and innovation. This new funding will enable the company to enter into additional domains such as new social media advertising channels, and enable the development of next generation technologies such as re-targeting. The investment will also help us acquire additional talent to expand our offerings and deepen our relationships with our clients. The support of Sequoia Capital has been integral to our success thus far, and we will continue to value our partnership well into the future.”
Kenshoo is the leading online demand generation SaaS platform, delivering cutting-edge technologies for enterprise advertisers, agencies, and local marketing providers across search, local, mobile, and social media advertising. Kenshoo provides unique value and service to well over 150 clients around the world, in dozens of languages and from offices in nine international locations. The Kenshoo Campaign Management Suite of solutions includes Kenshoo Enterprise, Kenshoo Local and Kenshoo Social, and is designed to minimize labor and increase ROI through advanced campaign management, automation, and optimization. Kenshoo clients and partners include Demandware, Extra Space Storage, Facebook, Hitwise, iREP, LinkShare, Netsuite, Omnicom, SapientNitro, Textbooks.com, and many more. Kenshoo is backed by venture capital firms Sequoia Capital and Arts Alliance.
About Sequoia Capital
Sequoia Capital provides venture capital funding to founders of startups who want to turn business ideas into enduring companies. As the "Entrepreneurs Behind the Entrepreneurs", Sequoia Capital's Partners have worked with innovators such as Steve Jobs of Apple Computer, Larry Ellison of Oracle, Bob Swanson of Linear Technology, Sandy Lerner and Len Bozack of Cisco Systems, Dan Warmenhoven of NetApp, Jerry Yang and David Filo of Yahoo!, Jen-Hsun Huang of NVIDIA, Michael Marks of Flextronics, Larry Page and Sergey Brin of Google, Chad Hurley and Steve Chen of YouTube, Dominic Orr and Keerti Melkote of Aruba Wireless Networks, Jonathan Kaplan of Pure Digital, Tony Hsieh of Zappos, Omar Hamoui of AdMob, and Steve Streit of Green Dot.