SPMD Kenshoo moves Halogen out of beta, secures $20M in growth financing
Kenshoo, a Facebook Strategic Preferred Marketing Developer, announced the general availability of Kenshoo Halogen, a predictive modeling engine for digital marketers, which powers various components of the Kenshoo platform.
During beta testing with more than 90 marketing plans, Kenshoo Halogen increased client sales revenue by 53 percent while increasing digital marketing investments by 36 percent.Marketers also cited a reduction of man-hours spent on budget analysis and pacing, in some cases as much as 20 percent.
Will Martin-Gill, Senior Vice President of Product for Kenshoo, said in a press release:
At Kenshoo, innovation is at the core of everything we do and we’re diligent in our pursuit to provide marketers with the industry-leading technologies they need to optimize campaigns based on unique goals and objectives. Kenshoo Halogen continues the trend of disruptive digital solutions from Kenshoo and we’re proud to equip our clients with this advanced technology.
Kenshoo Halogen uses past performance of campaigns and a wide variety of market data to provide forecasts and scenario plans that can be automatically applied to in-market campaigns.
On the heels of Halogen, the company also announced a $20 million growth financing round led by Bain Capital Venture. Kenshoo’s existing investors — Sequoia Capital, Arts Alliance and Tenaya Capital — also participated in the financing round. They plan to use the funding to further disrupt the digital marketing technology space with its proprietary approach to predictive media optimization.
Yoav Izhar-Prato, co-founder and chief executive officer of Kenshoo, said in a press release:
From the beginning, Kenshoo’s focus has been finding and creating solutions to the most complex problems marketers face on a daily basis. Our new partnership with Bain Capital Ventures and the continued support of existing investors is evidence of the strength of the digital marketing industry as well as Kenshoo’s unique positioning with predictive media optimization.