Kevel raises $10M for its flexible ad serving API platform
The Series B funding, led by Fulcrum Equity Partners, supports Kevel’s development of APIs that allow enterprises to build custom ad servers faster and more affordably while fueling its further expansion into retail media
DURHAM, N.C. December 2021 — Kevel, a leading API infrastructure platform used to build custom ad platforms, has raised $10M in Series B funding. The round was led by Fulcrum Equity Partners, with participation from existing investors Commerce Ventures, JARS Labs, and AperiamVentures, alongside some existing angels that helped finance the series A. This financial support will be used to expand the Kevel team, acquire more partnerships, develop product features and API offerings, and expand further into retail media.
Kevel has grown significantly over the past year following its rebrand from the original Adzerk name in December 2020. Since then, Kevel has signed numerous partnerships with leading enterprises and continues to work with customers including Ticketmaster, Klarna, WeTransfer, and Yelp.
Kevel receives this funding at a pinnacle in digital advertising when user privacy is at the forefront of discussion. Kevel enables businesses to build walled garden ad solutions that rival those of the monopolies dominating the internet in a privacy-focused way. Its API platform is a cookie-less, JavaScript-free solution that offers server-side access. Server-side data management allows Kevel to integrate important advertising features like demographics, frequency capping, and past purchase data but also ensures its clients’ data remains secure.
Kevel’s API platform allows its customers to build personalized ad servers quickly and affordably to seamlessly integrate native ad units into the website’s design using first-party data. Kevel offers many different customizable tools and works directly with businesses, allowing them to monetize their ads with no negative impact on user experience. In retail, e-commerce, and marketplaces, Kevel's APIs allow customers to take ownership of their own media programs.
The lead investor, Fulcrum Equity Partners, is a growth equity firm based in Atlanta, Georgia, with a focus on healthcare IT, B2B SaaS, and tech-enabled services. It led Kevel’s Series A round of funding in 2020 and continues to provide financial support to the company.
“We are delighted to be partnered with investors who have recognized our growth over the past year. More businesses than ever want to build custom ad platforms like Facebook and Amazon, and we are happy to do our part in taking back some power from the large monopolies dominating the internet,” says James Avery, Founder and CEO of Kevel. “This funding will allow us to continue expanding our client base and offer advanced features that allow them to monetize their ad platforms in the quickest and most affordable way.”
“We’ve seen Kevel’s significant growth over the past year and are tremendously impressed with the team and culture they have created,” says Philip Lewis, Partner at Fulcrum Equity Partners. “We look forward to continuing this partnership to cement Kevel’s position as the leading ad serving API provider. Kevel has built a great product that will have a significant impact on the digital advertising industry as a whole.”
About Kevel
Kevel offers the infrastructure APIs needed to quickly build custom ad platforms for sponsored listings, internal promotions, native ads, and more -- allowing brands to drive new revenue in a user-first way. Kevel is committed to the vision that every online retailer and publisher should be able to add privacy-focused ad revenue streams and take back the Internet from Google, Amazon, Facebook, and other digital monopolies. Customers like Ticketmaster, Yelp, Strava, Klarna, and many more have already launched successful ad platforms on Kevel. The company has received many accolades, most recently winning the 2021 Digiday Technology Award for Best Monetization Platform for Publishers and recognized by Insider as one of the hottest adtech companies of 2021. Learn more at www.kevel.com.
About Fulcrum Equity Partners
Fulcrum Equity Partners is an Atlanta-based growth equity firm that manages over $600 million and provides expansion capital to rapidly growing companies led by strong entrepreneurs and management teams. Fulcrum targets companies within healthcare services, HCIT, B2B SaaS, and technology-enabled services. Fulcrum’s initial target investment is $4 million - $25 million, providing financing to meet a wide range of needs including internal growth initiatives, acquisitions, divestitures, shareholder liquidity, and recapitalizations.
The partners have over 140 years of relevant experience in Fulcrum’s target markets, including significant operating experience in senior executive positions at companies that grew rapidly and enjoyed successful exits. Additionally, Fulcrum’s limited partners include over 100 current or former business owners/CEOs of leading companies in a wide variety of industries that provide a rich resource for the firm and portfolio companies. Learn more at http://www.fulcrumep.com.
