Real-time advertising platform Taykey announces $6m VC funding round

Taykey, a service that delivers online advertising campaigns based on real-time trends, has secured $6 million (£3.94 million) in new VC funding.

The company's technology constantly analyses data from across the web 24/7, allowing Taykey to buy topical and targeted advertising space in real-time on platforms such as Facebook, Google, YouTube and Twitter. This ensures that advertising is automatically displayed alongside current trends that are relevant to their audience only while that topic is trending.

The funding has been provided by a new investor, venture firm Tenaya Capital, alongside additional finances from existing stakeholders Sequoia Capital, Softbank Capital, and Marker. This brings the Taykey's total funding to date to $17 million (£11.17 million).

The company was founded in New York by current CEO Amit Anver in 2009. Since launching, it has worked with a large number of top brands and currently lists Unilever, Land Rover, Paramount Studios and Dell among its clients.

This year alone, Taykey has already run over 100 campaigns. The service has a 50 per cent client retention rate and profits, although undisclosed, are understood to have tripled in 2012.

The company now has offices in New York, London, San Francisco and Chicago, employing just over 50 people. Avner plans to use the new money to double his staff over the next year.

"As we approach profitability this year, we determined that the time was right to take a small investment to enable us to expand our personnel and fuel even more rapid growth in the near term," he said.

"Our success is demonstrated by the caliber of the talent we are bringing into the company from some of the best companies in the industry."

Douglas Leone, general partner of Sequoia Capital, commented: "Taykey is creating a new channel for advertising to enable brands to be agile and responsive to what their audience is paying attention to in real time.

"Their revenue and talent growth in the last year proves the market's desire for topical advertising. We couldn't be happier to continue our support."

Recently, Taykey announced a partnership with Net Communities, a UK-based advertising solutions specialist.