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Triggit hits the jackpot with $7.4 million series B funding

After see­ing its rev­enue soar by 300 per­cent in less than six months, San Fran­cis­co based ad tech start­up Trig­git has leaped to new heights with a Series B fund­ing deal worth $7.4 million.

Copy­writ­ers, art direc­tors and account man­agers from most online adver­tis­ing agen­cies will be intrigued by the suc­cess of Triggit’s “demand-side plat­form” (DSP), which plunges into real-time bid­ding exchanges to buy ads for its 200 clients, all of whom spend over $10,000 a month.

Spec­tac­u­lar growth

This stratos­pher­ic suc­cess sto­ry is chiefly due to the startup’s par­tic­i­pa­tion in Facebook’s ad exchange, FXB, which uses re-tar­get­ing tools to assist adver­tis­ers to reach the famous social network’s army of users. In the last quar­ter of 2012 alone, Trig­git expand­ed its team by 50 per­cent and now boasts offices in Los Ange­les, Boston and New York. It’s CEO and co-founder, , says he’d “be sur­prised if we didn’t dou­ble in size in the next six to twelve months.”

The lat­est fund­ing round takes the total raised by Trig­git to $13.4 mil­lion and the firm is near­ing prof­itabil­i­ty. The round was led by ven­ture cap­i­tal firms Foundry Group and Spark Cap­i­tal and includ­ed exist­ing investors. Coelius said, “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. Face­book and what they’re doing is per­fect for what we do…This is just the beginning.”

Inter­na­tion­al expansion

FXB allows adver­tis­ers to tar­get ads to users accord­ing to their brows­ing his­to­ry. But the firm’s pri­ma­ry focus gives it the edge – it’s one of the few DSP part­ners on FBX to run ads internationally.

Nine­ty per­cent of Triggit’s growth, says Coelius, has come from new busi­ness. Dur­ing Q1 2013 (or even ear­li­er), the com­pa­ny plans to expand its offices to Europe, South Amer­i­ca and Asia.

But despite the spec­tac­u­lar growth gen­er­at­ed by FBX, Trig­git will not be turn­ing away from its tra­di­tion­al online adver­tis­ing busi­ness. It’s attract­ing new cus­tomers want­i­ng to adver­tise through FBX, all of whom can see how well the company’s cam­paigns are per­form­ing – an obser­va­tion like­ly to pre­dis­pose them toward invit­ing Trig­git to run online cam­paigns, too.

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