Kevel Secures Series C Funding and Appoints President/COO

3 mins read

Kevel, the API-led ad serving company, has announced a significant milestone with the successful closure of its Series C funding, raising a substantial USD$23 million (£18 million) and a new president. This round of funding, spearheaded by Series B investor Fulcrum Equity Partners, also saw participation from notable investors including Godwin Capital Group, Iberis Capital, Dunnhumby Ventures, and Commerce Ventures, showcasing the continued confidence in Kevel’s vision and growth trajectory.

The infusion of capital will fuel Kevel’s strategic expansion into the retail media landscape, empowering retailers and marketplaces with advanced product innovation and tailored solutions for on-site retail media advertising. James Avery, CEO of Kevel, underscored the unique value proposition that retailers bring to the table, citing their access to unparalleled first-party data and closed-loop attribution. Kevel’s adaptable API tools enable retailers to harness these distinctive attributes, offering advertisers innovative decisioning, ad formats, targeting capabilities, and enhanced site performance while safeguarding data integrity at scale.

To spearhead its ambitious growth plans and capitalise on the burgeoning retail media market, Kevel has bolstered its senior leadership team with the appointment of Puja Rios as President and Chief Operating Officer (COO). With an illustrious career spanning over 25 years in the software industry, including notable roles such as Chief Revenue Officer at, Rios brings a wealth of expertise in revenue scaling, team building, and driving transformative results. Her strategic guidance will be instrumental in propelling Kevel into its next phase of expansion, particularly within the retail media sector.

Rios expressed her enthusiasm for joining Kevel, citing the company’s unwavering commitment to innovation and its ability to redefine the boundaries of possibility in the dynamic realm of retail media. As the industry witnesses a paradigm shift towards differentiation and value creation, Kevel is poised to lead the charge by delivering tailored solutions that cater to the evolving needs of retailers and advertisers alike.

James Avery emphasised the pivotal role of retail media in driving business growth, noting a significant shift in the landscape as brands prioritise investment in high-value retail media networks. With Puja Rios onboard, Kevel is poised to empower retailers in crafting bespoke, differentiated media networks that resonate with the demands of today’s advertisers, cementing their position as a trailblazer in the retail advertising space.

As Kevel embarks on this transformative journey, fueled by fresh capital and seasoned leadership like a new President, the company remains steadfast in its commitment to pushing boundaries and delivering unparalleled value to its clients in the ever-evolving landscape of retail media.