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Kevel Raises $52M to Scale Retail Media AI

Kevel raised $52M in new funding led by Fulcrum Equity Partners to scale its AI-powered retail media infrastructure.

By Raina Gimmel

Kevel raises $52M

The big picture: Durham, N.C.-based Kevel raised $52 million in new capital to expand its advertising technology platform for retailers and commerce businesses, bringing its total funding to more than $100 million.

Why it matters:

  • Competitive Edge: Kevel’s platform enables businesses to build and operate their own advertising networks, offering an alternative to larger platforms and fostering competition in commerce media.
  • Data Ownership: The technology allows businesses to maintain control over their monetization strategies and data, tailoring advertising products to their specific audiences and commercial goals.
  • AI Integration: The funding will accelerate the development of Kevel’s artificial intelligence capabilities, empowering retailers to leverage AI for ad placement, bidding decisions, and greater control over advertising outcomes.

How it works:

  • API-First Infrastructure: Kevel provides an application programming interface (API)-based infrastructure, allowing businesses to seamlessly integrate custom advertising networks into their existing commerce operations.
  • Multi-Channel Support: The platform facilitates advertising across various channels, including retailer websites, mobile applications, off-site placements, and in-store environments.
  • Customizable Ad Products: Customers can tailor advertising products to their unique audiences and commercial strategies, with the flexibility to use Kevel’s AI tools or integrate their own data and models.

The catch: The retail media sector is rapidly expanding and becoming increasingly competitive, with numerous platforms and technology providers vying for market share. Kevel’s success will depend on its ability to differentiate its API-first approach and advanced AI capabilities against competitors offering full-stack solutions or in-house development options for large retailers.

Key Facts

  • Company: Kevel
  • Amount: $52M
  • Investors: Fulcrum Equity Partners (lead), dunnhumby Ventures, Iberis Capital, ORIX Corporation USA
  • Founder: James Avery
  • Sector: Retail Media Infrastructure
  • Headquarters: Durham, N.C., US

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