Rokt Expands Ecommerce Offering with Acquisition of Canal, Unlocking New Revenue Stream

Rokt, the global leader in ecommerce, unlocking real-time relevance in the moment that matters most, is expanding its ecommerce product offering, announcing that it is acquiring Canal to help clients unlock new revenue streams. This strategic acquisition enables Rokt’s ecommerce partners to seamlessly broaden their product range by tapping into a curated network of third-party inventory from premium direct-to-consumer (DTC) brands, without taking on the burden of production, logistics or inventory management. This new Rokt Catalog product will broaden the range of relevant offers that can be presented to a consumer throughout the Transaction Moment. Terms of the deal were not disclosed.

“This acquisition not only expands our products and the Rokt Network, it redefines the advantage we provide to our ecommerce partners,” said Bruce Buchanan, CEO of Rokt. “By integrating Canal’s catalog with our AI-powered Rokt Brain, we’re unlocking a new level of relevancy that makes the shopping experience better for every consumer.”

Through the acquisition, Rokt is enabling brands to acquire new customers through a premium, performance-driven distribution channel-an extension of Rokt Ads-by presenting their products in shoppable, contextually relevant formats during the ecommerce transaction. Canal’s distributed commerce infrastructure perfectly complements Rokt’s Network and AI– and ML–driven product suite, enabling brands to acquire new customers through a premium, performance-driven distribution channel. Rokt Catalog unlocks new value across Rokt’s ecommerce products: Pay+, Aftersell, and Thanks by making high-performing 3P products available within these experiences-boosting relevance and revenue during the Transaction Moment, all intelligently powered by the Rokt Brain. Canal’s network includes 1,900 leading retailers and DTC brands such as Macy’s, SHEIN, Anine Bing, True Classic, Jonathan Adler, 3.1 Phillip Lim and Uncommon Goods.

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Canal was cofounded in 2020 by Bennett Carroccio, Clay Schubiner and Liam Kinney, all of whom will stay on and join Rokt’s product leadership team. The co-founders will leverage their deep expertise in AI, retail integrations and scalable commerce technology to help Rokt rapidly build the product within its ecosystem to benefit both clients and their shoppers.

“Canal’s mission has always been to empower brands to sell anything, anywhere, by building the #1 platform for curated products,” said Bennett Carroccio, CEO and co-founder of Canal. “Joining forces with Rokt allows us to build on that mission and redefine how retailers approach the customer experience. We couldn’t be more excited to bring Rokt’s technology to Canal’s partners and work together to create the future of distributed commerce.”

SOURCE: PRNewswire