Northgate Capital
Mohr Davidow

Rocket Fuel Raises $6.6 Million Series C At $160 Million Valuation

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Display ad optimization startup Rocket Fuel raised $6.6 million in a Series C funding, giving it a $160 million valuation, according to the company. Northgate Capital led the financing. Other investors included Mohr Davidow Ventures, Labrador Capital Fund, Nokia Growth Partners and Wilson Sonsini Goodrich & Rosati.

Rocket Fuel processes 1.5 billon display ads ever day for major brands, constantly tweaking them acros thousands of variables to improve their targeting. The company is at a $50 million annualized revenue run-rate, which is up from a $30 million run-rate just four months ago. The company takes a completely data-driven approach to improving display ad performance.

The company was founded by executives from Yahoo, DoubleClick, and NASA, and currently employs 90 people. The last time it raised money was $10 million just in September, 2010.