American digital marketing tool developer Kenshoo has closed its new funding round at $20 million. Bain Capital Ventures was the lead investor in the financing. Existing investors Sequoia Capital, Tenaya Capital, and Arts Alliance also contributed to the round, according to Digital Media Wire (DMW).
Under the terms of the investment deal, Bain partner Deepak Sindwani will become a member of Kenshoo's board. MediaPost also said the company will use the new capital to launch a predictive media optimization platform to beef up its digital marketing technology.
At present, Kenshoo delivers 1 trillion digital ads every year and follows over $200 billion of annual online sales client sales revenue. Its new technology allows Kenshoo to deliver automated optimization campaigns. This lets marketers know the return they can get from a specific budget and return of revenue for every expense, the report detailed.
Kenshoo's most notable customers include Expedia, Facebook, Resolution Media, KAYAK, and Travelocity, DMW reported.
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