Toronto’s Chango announced this morning that it has secured an additional $12 million in funding with existing investors including iNovia, Rho Canada Ventures, Metamorphic Ventures, Mantella Venture Partners and Extreme Venture Partners participating in the round.
Chango is one of the fastest growing real-time ad technology companies in the world, growing revenue over 600% year over year for 2 years running.
With offices in New York, San Francisco, Toronto and Los Angeles, Chango is currently servicing 55 of the top 500 online retailers, and is now expanding sales presence to Chicago, Detroit and London to reach additional online retailers, and to support additional industries including automotive and travel.
“We’ve built a world class team and technology platform that is delivering consistently great results for our clients,” said Chris Sukornyk, Founder & CEO. “Our clients are among the most progressive advertisers and agencies in online retail and we’re achieving a 90% renewal rate.”
With this funding, Chango is launching Programmatic Site Retargeting (PSR), the first of several new real-time solutions being built on the Chango Madison platform. Site retargeting is one of the most effective forms of ad targeting, and Chango PSR leverages diverse data sources and customizable logic to make it dramatically more efficient.
Chango will support geographic, industry and product expansion with 50 new open positions in sales, engineering, marketing, client services, and ad operations.