Kennet Partners, the technology growth equity investor has recently announced a €16 million investment in Next Performance, a fast growing online advertising company that specialises in dynamic retargeting. The financing will be used to fund Next Performance’s continued European expansion. Michael Elias, Managing Director at Kennet, and Hillel Zidel, Director at Kennet, will join the Board of Directors of Next Performance.
The young Paris based company Next Performance delivers high value retargeting and audience targeting services for brands and large retailers using its proprietary optimization technology. Next Performance’s offering includes dynamic personalized banners, local targeting and massive reach campaigns on multiple business models (CPA, CPC and CPM). Since its establishment in 2008, Next Performance has expanded rapidly – its client base has increased from 11 customers in January 2009 to over 500 in May 2011. The combined retargeting and audience targeting proposition has enabled Next Performance to provide advertisers with a unique solution both to retarget existing customers as well as to acquire new customers.
“We’ve been extremely impressed with the rapid growth of Next Performance, a great example of a founder-led, bootstrapped business. Our investment in Next Performance is the result of our continued focus on the online advertising segment both in Europe and the US”, said Michael Elias, Managing Director at Kennet.
Vincent Karachira, co-founder and CEO of Next Performance said: “We will use the capital to significantly expand our international presence”.