Rocket Fuel, a Redwood Shores, California-based provider of artificial intelligence advertising solutions for digital marketers, has secured $50m in financing.
The round was led by existing investor Northgate Capital, with participation from new investors Summit Partners, and Cross Creek Capital and existing shareholders Nokia Growth Capital, Mohr Davidow Ventures. Comerica Bank also participated in the financing.
The company intends to use the new capital to expand into more international markets and invest in hiring, technology, and business development.
Led by CEO George John, Rocket Fuel provides artificial intelligence advertising solutions that allow marketers to power their advertising across display, video, mobile, and social media. The company has offices in fifteen cities worldwide including New York, London, Toronto, and Hamburg. It currently has 206 employees with plans to hire another 100 people this year.