Adrian J Cotterill, Editor-in-Chief
Kevel, an API led ad serving company, has raised USD 23M in Series C funding. This round of funding was led by Series B investor Fulcrum Equity Partners with investment from Godwin Capital Group, Iberis Capital, Dunnhumby Ventures, as well as continued participation from Commerce Ventures.
The announcement said that this new funding will allow Kevel to deepen its retail media focus and drive advanced product innovation to retailers and marketplaces offering on-site retail media ad products.
“What makes retailers different from traditional publishers is that they have unique 1st party data and closed loop attribution,” stated James Avery, CEO, Kevel. “Kevel’s flexible API tools enable retailers to build differentiated retail media platforms leveraging their unique attributes to provide advertisers with innovative, cutting edge decisioning, ad formats, targeting, and site performance, all while keeping their data safe and secure at scale.”
Kevel also announced the expansion of its senior leadership team with the addition of former Frame.io Chief Revenue Officer Puja Rios joining the company as President / COO.
With over 25 years of experience in the software industry, Puja has a proven track record of scaling revenue, building high-performance teams and delivering stellar results. Rios focus will centralize around the next phase of growth for Kevel, expanding the company’s client base further into the retail media sector.
This heightened focus on retail media comes at a pivotal time for the billion dollar retail advertising industry as it enters the age of differentiation. Retailers and marketplaces are striving to capture advertiser demand for inventory, flexibility and maximum ROI by offering the best mix of data targeting, ad formats and measurement while balancing the preservation of their brand, data assets and shopper experience.
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