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.
Rocket Fuel delivers the only programmatic media-buying platform at big data scale that harnesses the power of artificial intelligence to improve marketing ROI. Rocket Fuel’s Advertising That LearnsTM technology powered 894 advertisers in 2012, and empowers media teams to focus on strategy, not spreadsheets. Awarded #4 on Forbes’ 2013 Most Promising Companies In America list, Rocket Fuel was founded by online advertising veterans and rocket scientists from NASA, Yahoo!, Salesforce.com, and DoubleClick. Rocket Fuel employs over 350 people in...