Kevel raises $52 million, its largest round yet
The Durham ad tech company says the money will go to AI decisioning tools, global expansion and advisory services.
Kevel, a Durham company that builds ad technology for retailers and marketplaces running their own media networks, announced $52 million in new capital on Oct. 21, 2026. The company called it the largest raise in its history and said its total funding now tops $100 million.
The round includes expanded investments from Fulcrum Equity Partners, dunnhumby Ventures and Iberis Capital, plus growth capital from ORIX USA's Growth Capital business, according to the release. Cafferty & Company was Kevel's sole advisor on the deal.
Kevel says it will use the money to keep building AI decisioning and optimization features that retailers can inspect and configure, to expand into new retail and commerce media categories worldwide, and to grow its advisory services. Founder and CEO James Avery told AdExchanger the company may also use some of the funds for acquisitions.
"This raise enables us to scale the technology retailers and marketplaces need to build differentiated media networks," Avery said in the release.
The company says more than 100 commerce media networks use its platform, naming Tesco, Dollar General Media Networks, John Lewis Partnership, PayPal, Scandinavian Airlines, Home Depot's Orange Apron Media and Nubank.
About this story
By Sotwire Desk. Written by Sotwire Desk from the sources below. Not a company attestation.
Sotwire Desk. Written by a named Sotwire editor from the sources cited below. Not a company attestation. Sotwire corrects errors publicly.
Key facts
- Kevel
- Durham, NC
- Funding
- Desk reported
- Sotwire Desk
- $52 million
- Oct. 21, 2026
- Fulcrum Equity Partners, dunnhumby Ventures, Iberis Capital, ORIX USA Growth Capital
- More than $100 million, per the company
- Cafferty & Company
- James Avery
- Series D, per AdExchanger
Key events
- Kevel announced $52 million in new capital
Sources
- Kevel Secures $52 Million to Scale AI-Driven Infrastructure for the Future of Commerce Media · Kevel via GlobeNewswire · accessed 2026-10-23
- ORIX USA's Growth Capital Business Invests in Kevel · ORIX USA · accessed 2026-10-23
- Retail Media Platform Kevel Raises $52 Million With M&A On The Brain · AdExchanger · accessed 2026-10-23