Social media-powered ad exchange Taykey takes $6m in fresh funding
By Martin Bryant, Wednesday, 17 Jul ’13, 02:00pm —
Taykey, a platform that connects advertisers with audiences based on real-time interest data from social networks, has today announced a new $6 million funding round.
The New York-based startup analyses activity on platforms like Facebook, YouTube and Twitter to spot trending topics and buys ad space for relevant brands to show against those trends. Display, video and social ads are all supported.
Founder and CEO Amit Avner tells us that brands including Unilever, Landrover, Paramount Studios, Dell and GE currently use Taykey, which is taking the traditional ad exchange model and bringing it into the social age. “Doubleclick for right now,” as he puts it.
The new funding comes from Tenaya Capital and existing investors Sequoia Capital, Softbank Capital, and Marker. It brings the firm’s total funding to date to $17 million.
In addition to New York City, the company has offices in San Francisco, Chicago and London, and employs just over 50 people. Avner plans to use the new money to increase that to around 100 in the next 8 to 12 months, taking in sales, engineering, ad operations, and product roles.
Growth doesn’t seem to have been a problem for the company thus far; while he won’t disclose specific figures, Avner says that the company’s revenue tripled for the second year running last year. Indeed, Taykey’s aim, he says, is to become a billion-dollar company. “In ad tech you aim for $50 million, $400 million or $1 billion. We’re going for the higher end.” Given today’s investment, Taykey’s backers appear to think that’s a good bet.
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