Stay on Top of Enterprise Technology Trends
Get updates impacting your industry from our GigaOm Research Community
It’s been a good few months for San Francisco-based ad tech startup Triggit. Since June, the company said, revenue has climbed 300 percent thanks largely to its participation in Facebook’s (s FB) ad exchange. It’s also grown its team by 50 percent and opened three new sales offices in New York, Boston and Los Angeles.
On Thursday, the demand-side platform (DSP) announced that it has raised $7.4 million in Series B funding in a round led by Spark Capital and Foundry Group and including its earlier investors. The new round brings its total amount raised to more than $12.4 million.
As one of the companies that provides retargeting tools to help advertisers reach Facebook users through the social network’s Facebook Exchange (FBX), CEO and co-founder Zach Coelius said Triggit has received plenty of new business from around the country and around the world.
“Our core reason for existence is to help advertisers leverage customer relationships and help them communicate across different sources of content in really relevant ways,” said Coelius. “Facebook and what they’re doing is perfect for what we do. … This is just the beginning.”
Through the Facebook Exchange, advertisers can target ads to users based on their general web browsing history. In addition to Triggit, the Facebook Exchange partners include Appnexus, Adroll, DataXu and Criteo. But Coelius said Triggit was one of the few early DSP partners able to serve international advertisers interested in marketing through FBX. About 90 percent of the company’s growth has come from new business, he added, and about half of that has been international.
To continue to meet that demand, Coelius said, the company plans to focus on international expansion, with hires in Asia, Europe and South America in the first quarter of next year or even sooner.
He also said that the company is nearing profitability and could reach it in the next month if they held back on hiring, but he emphasized that the current focus for the company is growth not profitability.