Kevel Raises $52 Million for Retail Media Platform

Oct 23, 2026
Kevel raised a $52 million Series D, bringing its total funding to more than $100 million. The company plans to consider acquisitions and expand its retail media infrastructure.

Kevel raised a $52 million Series D and may use part of the funding for acquisitions, according to AdExchanger. The round brings its total funding to more than $100 million and includes investments from Fulcrum Equity Partners, Dunnhumby Ventures, Iberis Capital and ORIX USA.

Kevel provides infrastructure that retailers use to operate advertising networks. Its AI decision system shows retailers which ads entered an auction, what affected bid prices and why the system selected an ad, allowing them to diagnose results and adjust the model.

The company is considering acquisitions of vendors that provide related technology to retailers. CEO James Avery said Kevel is close to profitability and expects to reach it by the end of the year.

Kevel is also working with Dunnhumby on the Dunnhumby Network Alliance. The service lets brands buy advertising across retailers including Tesco, John Lewis and Kingfisher through one purchase.

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