Next Performance raises €16m for its online ad retargeting

Next Performance, the online ad company that specialises in “dynamic retargeting”, has raised €16m from UK-based growth equity firm Kennet Partners. The new funds will be used by Next Performance to continue its European expansion, while Michael Elias, Managing Director at Kennet, and Hillel Zidel, Director at Kennet, will join the the Paris, France-based company’s Board of Directors.

Next Performance offers retargeting and audience targeting services to brands and large retailers via its proprietary optimization technology, which includes “dynamic personalized banners” and local targeting on a CPA, CPC and CPM basis.

Founded in 2008, the company claims over 500 customers as May this year, working with ad exchanges, networks and publishers across Europe, including France, UK, Germany, Austria, Netherlands, Switzerland, Belgium, Italy, Spain, and Portugal.