Online advertising has been growing rapidly as dollars shift from traditional ad channels to digital ones. According to eMarketer, by 2015 advertisers will spend $132.1 billion annually for online advertising. Advertisers are increasing their investment in online advertising across multiple channels to drive greater lead generation, customer acquisition, and revenue.
One sign of that is how well companies in the digital ad industry are doing, both in terms of revenue and in fund raising.
For instance, this activity is fueling the expanding adoption of San Francisco-based Marin Software’s ad management and optimization platform.
In the wake of Marin’s success, Asia investment company Temasek led a $30 million round of funding along with SAP Ventures.
Joining the new investors in this oversubscribed round were existing Marin venture investors Benchmark Capital, Crosslink Capital, DAG Ventures, and Triangle Peak Partners.
The company sells online advertising management solutions, offering an integrated platform for managing search, social, display, and mobile marketing. The company provides solutions for advertisers and agencies. Marin’s technology powers marketing campaigns for over 1,500 customers managing more than $3.5 billion of annualized ad spend in more than 160 countries.
During the last year, Marin nearly doubled its customer base to 1,500 as well as the amount of annual spend managed on its platform to $3.5 billion.
Following Marin Software’s year of rapid international expansion, customer growth, and product innovation, and the closing of the recent financing, Frank van Veenendaal, President of Worldwide Sales and Services at salesforce.com, has joined Marin Software’s Board.
Marin Software’s Dramatic Growth:
- Since its inception in 2006, Marin Software has grown into the premier provider of advertising management solutions worldwide. Marin currently serves clients in 160 countries with 25 currencies, increasing its international footprint in the last year with the opening of offices in Singapore, France, Australia, and Germany.
- More than 1,500 of the world’s leading advertisers and agencies manage $3.5 billion in annualized online ad spend through Marin Software. Within the last few months, Hotels.com, Brookstone, Coupons Inc., Rosetta, and Reprise Media have selected Marin’s platform to manage their search, display and social advertising campaigns. Longstanding Marin customers include iProspect, Neo@Ogilvy, Razorfish, Macy’s, Experian, and University of Phoenix.
- Spurred by increasing demand for its products worldwide, Marin Software hired more than 100 new employees during 2011.
Marin Software Funding:
- To date, Marin Software has raised more than $80 million in venture funding. Marin plans to invest this new capital to bolster product development, customer support, and service delivery worldwide.
- Temasek is an Asia investment company headquartered in Singapore, with a diversified S$193 billion portfolio as of March 31, 2011, concentrated principally in Singapore, Asia and growth markets. Through its partnership with Temasek, Marin Software will be able to accelerate its growth across Asia and other emerging markets.