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The Massive Growth Of Facebook Ads Got This Startup $7 Million In Funding
Triggit, the so-called "demand-side platform" that buys ads in real-time bidding exchanges for about 200 clients, won $7.4 million in series B funding from Spark Capital and Foundry Group, the company said.
The new investment came after explosive growth in the business Triggit is placing inside FBX, Facebook's RTB ad exchange.
FBX works by allowing outside advertisers to drop tracking "cookies" on users' web browsers. When those users sign into Facebook, the cookies triggers ads promoting those advertisers. Triggit's clients include Hilton, Kmart and Lowes.
Spark Capital founder Santo Politi said Triggit is "on track to become very profitable."
CEO Zach Coelius told us his company handled about 200 clients internationally, all of which spend upwards of about $10,000 a month on RTB ads. The company has grown from about a dozen staff at the beginning of the year to 32 employees today.
Triggit place ads in all the major RTB exchanges, but FBX is driving the growth, Coelius says: "We've seen 300 percent topline revenue growth[from Facebook ads] since FBX launched in June."
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