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board governance
capital allocation strategy
global best practices
investor relations
m & a strategy
minority interest
private to public transition
supportive long-term shareholder

Situation

Rokt is the leader and pioneer in providing AI powered technology solutions to optimise the check-out experience for global e-commerce businesses. Rokt’s two-sided marketplace enables brands to connect with highly engaged and qualified consumers, which creates a unique customer value proposition in a large end market with a growing competitive advantage. TDM initially invested US$45m in October 2019.

 

Aligned Values

Rokt is a founder led business with exceptional track record of shareholder value creation and capital allocation and our investment in the business  represents another case of TDM backing and supporting a great management team to achieve significant long-term shareholder value.

Supporting highly capable founders is highly aligned with TDM’s ownership mentality. ROKT’s CEO, Bruce Buchanan, has a proven record of scaling businesses from start-up to billions of revenue and it was clear from our earliest interactions with him that we shared the same core values and beliefs. He has proven to be a high performer and the execution of the business over recent years is merely a case in point.

 

Partnership

Following TDM’s initial investment, Tom Cowan joined the Rokt board, which hand in hand with management has enabled Rokt to scale effectively.  The usual scaling pain points have been alleviated with great executive recruitment to support a visionary and highly driven founder.

In October 2020, at the height of Covid-19, TDM led the Series D funding, investing a further US$50m alongside other existing investors as part of a US$80m raise. This valued the business at US$450m, but importantly demonstrated the importance of a long-term partner to help navigate all the challenges that can be thrown at fast growing businesses.

 

Growth

Despite being heavily exposed to Covid impacted industries, Rokt’s competitive advantage continues to grow through product innovation and scale economies, and with this, so too has revenue.

In November 2021 Tiger Global led a US$350 Series E funding round, to value the business in excess of $US1.9b. We look forward to work with Rokt on transitioning to the public markets and beyond.

 

 

 

 

 

‘’A lot of investors talk about helping you build a business but TDM is unique in how much they have partnered in building our business. They roll up their sleeves and get into the details to solve complex challenging problems - at the same time they bring a unique and broader perspective to the table.’’
Bruce Buchanan
Founder and CEO, Rokt
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