SOURCE: Rocket Fuel Inc.

Rocket Fuel Inc.

December 11, 2009 08:01 ET

Rocket Fuel Secures $3M in Venture Funding to Boost Operations and Technology Growth

Company Experiences Huge Demand From Brand Advertisers as Market Shifts to Real-Time Data-Driven Technology

REDWOOD SHORES, CA--(Marketwire - December 11, 2009) - Rocket Fuel Inc. today announced that it has secured $3M in venture funding led by existing investor Mohr Davidow Ventures. Rocket Fuel plans to use the money to continue building its corporate infrastructure, scaling operations to service ongoing customer growth, and building an engineering team to further develop its proprietary real-time targeting and optimization technology platform.

Since launching its intelligent ad serving technology platform and hybrid ad network earlier this year, Rocket Fuel has experienced 265% quarter over quarter growth. Rocket Fuel has seen a tremendous increase in requests for customized, data-driven, and highly targeted display ad campaigns from many of the Fortune 500 companies. Rocket Fuel is seeing that more brand advertisers are demanding targeting and optimization that maximizes the efficiency and scale of their online display campaigns while delivering exceptional ROI.

"As investors, we look far and wide for inspiring teams that can change very large markets with differentiated technology," said Bill Ericson, Managing Director, Mohr Davidow Ventures. "The easiest decision for an investor is to continue to back a strong team that has done what they said they were going to do. We are extraordinarily enthusiastic about Rocket Fuel and its execution, and simply delighted at the customer response -- for a year-old company to have this kind of traction with leading brands and agencies is remarkable."

"Online advertising hasn't changed significantly since the inception of the medium, except for one innovation from a little company called Google, which was to earnestly try to show ads that a user would find relevant," said George John, CEO of Rocket Fuel Inc. "Overall people now think of search ads as a relevant complement to their searching activity. What if people thought of display ads that way too, with the same utility as book recommendations from Amazon, movie recommendations from Netflix, or friend suggestions from Facebook."

George John further added, "We do display advertising better than anyone else because we've built a modern architecture that leverages all of the flexibility in new ad exchanges offered by Google, Yahoo and others. With this recent investment, we see a clear path to profitability in late 2010, and we'll be scaling to better address the demand we see for optimized display advertising."

The company has closed $2.85M of the investment to date with additional commitments in December.

About Rocket Fuel Inc.

Rocket Fuel Inc. is building the first intelligent ad serving technology platform that combines the best of social, behavioral, contextual, geographical, search and other data sources to understand consumer interest and intent. Rocket Fuel goes beyond other audience targeting technologies by combining demographic, lifestyle, purchase intent and social data with its own suite of targeting algorithms, blended analytics and expert analysis to find active customers. Rocket Fuel uses its technology to run a hybrid ad network that delivers better ROI for premium brand marketers -- whether their objectives are brand-oriented or designed to drive a conversion event. Rocket Fuel was built by veterans from Yahoo!, DoubleClick, Epiphany, and salesforce.com to make marketing easier and more effective for advertisers, help publishers get the most value out of their inventory, and give consumers a personalized and relevant online experience. Rocket Fuel Inc. is a privately-held company headquartered in Redwood Shores, CA. For more information visit www.rocketfuelinc.com.

©2009 Rocket Fuel Inc. All rights reserved. Rocket Fuel Inc and Progressive Optimization are trademarks or registered trademarks of Rocket Fuel Inc. in the U.S. and/or other countries. All other trademarks are the property of their respective owners.

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