The capital will help fund geographic expansion.
Thad Rueter , Senior Editor
Kenshoo Inc., which provides software to help retailers manage paid search and online marketing programs, has raised $12 million in a funding round.
Tenaya Capital led the funding round, which also included existing Kenshoo investors Sequoia Capital, Sequoia Growth Fund and Arts Alliance.
Kenshoo says the capital will help it expand into “key geographic markets,” which it did not identify, and otherwise boost its services. “The Kenshoo team is second to none and clearly on a path to building a large market in a rapidly growing industry,” says Tom Banahan, managing director of Tenaya Capital. “Kenshoo’s superior technology, focus on scale, and commitment to profitability made it a clear choice for Tenaya to form a partnership and lead this round of financing.”
Nearly a year ago, Kenshoo expanded its presence in Europe by opening offices in France and Germany and hiring a Google Inc. veteran.