# Kevel

> API-based advertising infrastructure for retailer-owned commerce-media networks.

## Why it is interesting

Kevel helps commerce businesses sell advertising around their own customers and data. The investment case depends on retailers attracting recurring advertiser demand while covering technology and integration costs. Source-linked explanations of ad decisions do not independently establish incremental sales. Company-published customer results are attributed claims, not controlled performance tests.

## Profile

- **Latest funding:** Series C — $23M (March 7, 2024)
- **Latest known valuation:** Not publicly disclosed
- **Total disclosed equity funding:** $23M
- **Stage:** growth
- **Status:** private
- **Industries:** enterprise-saas, media-entertainment
- **Coverage:** full
- **Last updated:** 2026-10-24
- **Latest funding investors:** Fulcrum Equity Partners, Godwin Capital Group, Iberis Capital, Dunnhumby Ventures, Commerce Ventures

## Funding history

- Financing — equity/debt allocation undisclosed (Series D reported) · $52M total financing · October 21, 2026
  Source: https://www.kevel.com/blog/kevel-secures-52-million-to-scale-ai-driven-infrastructure-for-the-future-of-commerce-media
- Series C · $23M · March 7, 2024
  Source: https://www.kevel.com/blog/series-c-press-release

## Investors in our directory

- https://venturecapitaltracker.com/fund/fulcrum-equity-partners
- https://venturecapitaltracker.com/fund/orix-usa-growth-capital

## Related articles

- https://venturecapitaltracker.com/kevel-52m-financing-retail-media

**By:** [Venture Capital Tracker](https://venturecapitaltracker.com/editorial-policy)
**Last updated:** October 24, 2026

**Editorial note:** AI tools assisted with research, structure, or drafting. Venture Capital Tracker retains human editorial responsibility for factual accuracy, relevance, and source quality before publication.

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Source: https://venturecapitaltracker.com/startup/kevel