Kenshoo raises $12M to fuel search and social media

Round led by Tenaya Capital, and all of Kenshoo's previous investors

Financial trends and news by Steven Loeb
November 5, 2012
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Digital marketing software provider Kenshoo has raised $12 million in a late-stage financing round, the company revealed Monday.

Tenaya Capital led the round, and all existing Kenshoo investors, including Sequoia Capital, Sequoia Growth Fund, and Arts Alliance, all participated.

Kenshoo says that it will use the money to support its growth rates within its search and social media business unites, which it says are growing by double and triple digits. It also plans to use the money to penetrate key geographic markets, as well as help the company “more aggressively create new opportunities for brands and agencies to address the entire purchase funnel while driving revenue across channels and devices.”

“Kenshoo has always been motivated by creating unique solutions to marketing problems that others found too hard to tackle,” Yoav Izhar-Prato, co-founder and chief executive officer of Kenshoo, said in a statement.

“With nearly half of the Fortune 50 and all 10 top global ad agency networks using Kenshoo, our clients have always pushed us to deliver scalable technology that keeps them on the cutting edge. We will continue to push the boundaries of math and automation to deliver long-term success for our clients.”

Menlo Park, California-based Kenshoo was founded in 2006. It flagship product is Kenshoo Search an end-to-end Search Engine Management platform, which automates the process of building and optimizing cross channel search campaigns. The platform offers advanced features such as bid management, tracking, a unified dashboard and many more.

Kenshoo has several clients in the top 500 of Online Retailers. Currently Kenshoo Search is used around the world by such companies as Ogilvy UK, HitWise in Australia, iREP Japan, and Zappos in the U.S.

In 2012, Kenshoo says it was the first search marketing technology platform to release support for Google Product Listing Ads, integration with leading Search Engine Optimization platforms, bid automation for Baidu and portfolio optimization for Yahoo Japan.

Kenshoo was recently named as one of Facebook’s first dozen Strategic Preferred Marketing Developers, a distinction that will make it easier for brands to find the best developers available on Facebook.

The other companies were The first 12 companies selected for the list were AdobeAdParlorAlchemy SocialBrand NetworksGlow,GraphEffect, NanigansSalesforceSocialCodeSpruce Media, and 77Agency.

By being on the list, the companies are given special privileges, including: priority support from Facebook; access to alpha and beta trials; improved turn-around times for reviews and technical problems; improved access to Facebook’s product and engineering teams; and trainings on products that are tailored to the company’s needs and focus.

Essentially, these companies will get to have a say in what direction Facebook takes its marketing strategy. They will also basically be guaranteed that if anything goes wrong with their products, they will be fixed right away.

These advantages are not free, of course. Facebook says that Strategic PMDs will have to actively participate in business planning; assist with developing sales and marketing strategies for Facebook; be willing to quickly adopt of Facebook’s marketing products; and participate in studies and events.

Kenshoo also offered Kenshoo Enterprise, Kenshoo Local and Kenshoo Social, which direct more than $25 billion in annual client sales revenue. 

The company has campaigns running in more than 190 countries for nearly half of the Fortune 50 and all 10 top global ad agency networks. Kenshoo clients include CareerBuilder, Expedia, Facebook, KAYAK, Havas Digital, Hitwise, iREP, John Lewis, LendingTree, Resolution Media, Sears, Starcom MediaVest Group, Tesco, Travelocity, and Walgreens.

Kenshoo could not be reached for comment.

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Kenshoo Ltd.
Service provider
Description: Founded in 2006 by software engineers and search marketers, Kenshoo is a global innovator in search engine marketing technology with ext...

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