Business development managers eager to boost online advertising sales for their agency’s clients might wish to take a look at Taykey, the New York-headquartered ad tech platform which is going from strength to strength by delivering ads based on what’s most in the news for a brand’s audience.
Raising funds to fuel rising fortunes
Last year the startup clinched a handsome $6 million in Series C funding, which it is using to plow into enhancing its already rapid growth. To that end, it’s hired Carmit Tevet-Kuzy, as the new VP of finance. Ad, sales and engineering operations are also being built out, as are the firm’s product teams. This company’s know-how could make the work of a jobbing business development manager a good deal easier.
The latest round of funding brings Taykey’s total investment to $17 million. July’s 2013’s cash injection was courtesy of existing investors SoftBank Capital, Sequoia Capital and Marker along with a new participant, Tenaya Capital.
More than half of Taykey’s clients are repeat returnees, and in 2013 it ran over 100 campaigns. Having launched just six years ago in 2008, it’s now on course for annual revenues in excess of 8 figures this year. That’s a growth surge of 300 percent over last year. No business development manager could dispute that that’s pretty darned spectacular.
Real time topicality
Taykey’s patent-pending technology garners deep insights into content when it pops up across a raft of social media platforms. In this way, it gets a handle on users’ interests in real-time. Fusing real-time info with its unique patent-pending algorithm, it allows brands to deliver their ads far more effectively.
CEO and co-founder Amit Avner said:
“As we approach profitability, we determined that the time was right to take a small investment to enable us to expand our personnel and fuel even more rapid growth in the near term. Our success is demonstrated by the caliber of the talent we are bringing into the company from some of the best companies in the industry.”
Douglas Leone, a partner with Sequoia, said that Taykey’s revenue and talent over the last year proves that there’s a market for topical advertising. And his investment firm clearly shares that view.