Rocket Fuel Raises $6.6M in Series C Funding
Rocket Fuel Inc., a Redwood Shores, California-based digital advertising.company, has raised $6.6m in Series C funding.
The round was led by Northgate Capital, with participation from existing investors Mohr Davidow Ventures, Labrador Capital Fund, Nokia Growth Partners and Wilson Sonsini Goodrich & Rosati.
This funding brings the overall corporate valuation to $160m.
The company intends to use the capital for new product development and expansion of business development, sales and marketing activities. Rocket Fuel, which now employs more than 90 people in seven cities including New York, Chicago, Dallas, Detroit, Los Angeles and San Francisco, plans to open additional offices in the US, and expand into international markets in 2011.
Founded by former executives from NASA, Yahoo! and DoubleClick, and led by CEO George John, the company uses advanced proprietary response prediction and targeting technology to help marketers reach their brand goals quickly. Its Rocket Fuel Network combines more than 8,500 attributes including behavioral, contextual and demographic targeting into a single composite profile. It is guided by real-time electronic bidding that processes millions of impressions each day, and is automatically refreshed according to each individual advertiser’s goals every 15 minutes.
Rocket Fuel’s customer base includes more than 300 major blue chip companies and global brands.