Marin Software, provider of the leading online advertising management platform for advertisers and agencies, has secured an additional USD16 million (GBP9.8m) in Series E financing. Crosslink Capital led the round with participation from Marin’s existing venture capital investors including Benchmark Capital, DAG Ventures, Focus Ventures and Triangle Peak Partners.
The company has also announced that Eric Chin, partner at Crosslink Capital, will join the Board of Directors as an observer and that former Shutterfly VP of Finance John Kaelle has joined the executive team as Executive Vice President and Chief Financial Officer.
Marin Software will invest the Series E funding to support the growth of its global customer base which includes many of the world’s leading advertisers and agencies spanning diverse industries such as retail, education, financial services, online gaming, insurance, travel, automotive and B2B. Marin Software currently serves 800 clients worldwide and manages 600 million keywords and more than USD2 billion in annualised paid search spend for its customers.
As the leading global provider of online advertising management solutions, Marin’s technology is used to manage campaigns in 160 countries and 25 currencies. The company will use the funding to support continued international expansion. Marin Software recently announced its expansion into Asia with new offices in Singapore and Shanghai, and plans to expand into France, Australia, and Brazil in 2011.
In the past year, Marin Software expanded its product offering beyond paid search and now offers advanced applications for managing Facebook ads, as well as Marin Retargeting, a complete workflow, analysis, and optimisation solution for advertisers and agencies seeking to manage display retargeting as an integrated part of the online media mix.
John Kaelle has joined Marin Software as Executive Vice President and CFO. Kaelle joins the company from Shutterfly, where he was Vice President of Finance and Investor Relations. During his tenure at Shutterfly, Kaelle managed company growth from 150 to over 600 employees, revenue growth from USD54 million to over USD300 million, and a successful IPO in 2006. Prior to Shutterfly, John held executive roles at Thomas Weisel Partners and TriNet Corporate Realty Trust, a publicly traded real estate investment trust.
“With USD2 billion of global search spend under management, Marin Software is a leading innovator in the online advertising industry,” says Eric Chin (pictured), Partner, Crosslink Capital. “We believe the company’s strong customer momentum, track record of product innovation and global reach position Marin for continued success, and we look forward to working with the Marin team."