Ad Retargeter Criteo Snags Nearly $40 Million Investment
Ad-retargeting company Criteo has raised nearly $40 million in a Series D funding round led by Softbank Capital. The exact amount is 30 million euros, which works out to about $39 million for the Paris-based company. Yahoo Japan, SAP Ventures and Adams Street also contributed to the investment.
The new funding could make it more expensive for an acquirer to buy the fast-growth company, as it now has the capital to expand even quicker and push up its timeline for a possible IPO, something the company had been considering for 2013. Last week, AllThingsD reported that Yahoo is considering Criteo as an acquisition target .
Yahoo Japan's participation is also expected to help Criteo, which has 600 employees, expand its footprint in Asia.
The company says it has been profitable since 2009. It is expected to finish 2012 with more than $300 million in gross revenue.
To date, the company's clients have mainly been retail and travel advertisers who pay per click to drive web users who have visited and subsequently left their sites back to their properties. But in a recent interview, Criteo President Greg Coleman said the company was looking to figure out the best way to add financial-services and auto advertisers to the client base. About 20% of the company's revenue comes from U.S. sales, Mr. Coleman said at the time.
Criteo was founded in 2005 as a recommendation-engine tech company and has now raised more than $60 million.