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Kevel secures $52 million to scale ai-driven infrastructure for the future of commerce media. GlobeNewswire Published Oct 21, 2026 Largest funding round to date accelerates product innovation, transparent AI decisioning, and global expansion for commerce networks DURHAM, North Carolina, Oct. 21, 2026 (GLOBE NEWSWIRE) - Kevel, the ad tech infrastructure empowering commerce businesses to build media networks they own and grow, today announced $52 million in new capital, marking the largest capital raise in the company's history. The financing includes expanded strategic investments from Fulcrum Equity Partners, dunnhumby Ventures LLC, Iberis Capital and additional growth capital from ORIX Corporation USA's ("ORIX USA") Growth Capital business. Story continues below This advertisement has not loaded yet, but your article continues below. Kevel's total capital raised now exceeds $100 million, reflecting strong demand for its technology across the retail and commerce media industry. The continued support of investors like dunnhumby, the retail media arm of Tesco, reflects growing momentum behind retailer-owned media ecosystems. Dunnhumby's recent launch of the Dunnhumby Network Alliance (DNA), built in partnership with Kevel, also demonstrates an increase in industry-wide initiatives like this to drive greater scale and connectivity across retail media networks. Top Stories Interested in more newsletters? Browse here. Kevel's API-first architecture gives retailers, marketplaces and commerce platforms the flexibility to build media businesses around their own customers, data and growth strategies. As commerce media enters its next stage of maturity, businesses are shifting focus from launching to scaling media networks, requiring infrastructure capable of supporting omnichannel activation and AI-powered decisioning. "Commerce media is entering a new era, one defined by ownership, transparency, and AI-driven infrastructure built around the business rather than intermediaries," said James Avery, Founder & CEO, Kevel. "To keep commerce media open and competitive, businesses must own their monetization and data. This raise enables us to scale the technology retailers and marketplaces need to build differentiated media networks, drive sustainable growth, and compete head-to-head with the largest platforms." Story continues below This advertisement has not loaded yet, but your article continues below. Kevel is the leading commerce media platform, trusted by over 100+ commerce media networks, including Tesco, Dollar General Media Networks, John Lewis Partnership, Paypal, Scandinavian Airlines, Home Depot's Orange Apron Media, Nubank, and more, across North America, Europe, LATAM, and APAC. Kevel has a commitment to powering independent, privacy-first media networks for retailers, marketplaces and commerce platforms so they can compete with the walled gardens on their own terms. "Kevel has built an impressive, highly differentiated platform that enables customers to rapidly launch and scale retail media businesses tailored to their unique brands and audiences," said Blake Zhang, Managing Director in ORIX USA's Growth Capital business. "As the market continues to expand across on-site, off-site, in-store and other emerging channels, we believe Kevel is well positioned to help customers navigate that growing complexity and scale across an increasingly broad ecosystem. We are excited to partner with James and the Kevel team as they continue to innovate and help shape the next generation of retail media." This advertisement has not loaded yet. This advertisement has not loaded yet, but your article continues below. The investment reinforces Kevel's position as the API-first infrastructure layer for AI-enabled commerce media, built on a simple principle: AI that retailers can see into, control, and trust. As AI becomes increasingly central to media monetization, retailers need real visibility into how decisions are made and confidence that those decisions align with their business goals. Kevel's transparent AI shows exactly how and why every ad decision is made, so retailers can prove performance to advertisers, protect the shopper experience, and keep full ownership of their data and models. "Kevel's continued investment in building cutting-edge infrastructure and AI to power commerce media networks is truly incredible," commented Philip Lewis, Partner, Fulcrum Equity Partners. "We are thrilled to continue investing to ensure that Kevel has the resources to support the complex needs of our partners." The funding will accelerate Kevel's next stage of growth, with transparent AI at the center of its product roadmap. The company will continue developing its AI decisioning and optimization capabilities so that every ranking, bid and placement decision is explainable, auditable and configurable by retailers. The company will also expand globally into new retail and commerce media categories and deepen its strategic advisory services, helping retailers at every stage of maturity put AI to work without giving up visibility or control. Story continues below This advertisement has not loaded yet, but your article continues below. Cafferty & Company, an independent debt advisory firm, served as the sole advisor to Kevel on the transaction. About Kevel Kevel powers top retail and commerce media networks globally. Kevel helps businesses build a media network around its unique goals. This enables them to create differentiated media experiences, unlock new revenue streams, and scale in an AI-first world. Built API-first, Kevel combines the speed of buying with the control of building. Companies can use Kevel's transparent AI or bring their own data and models, giving them the flexibility to evolve their media business as customers, advertisers, and market opportunities change. The result is a media network that launches quickly, adapts continuously, and scales revenue over time. For more information, visit kevel.com. Media Contact This advertisement has not loaded yet. Quick Picks

John Lewis Partnership teams with Kevel as it further strengthens its Retail Media offer. The John Lewis Partnership has appointed Kevel to power its on-site retail media network, across both the John Lewis and Waitrose websites. It's the Partnerships' latest move to future-proof its retail media offer to brands, with its focus on providing highly personalised and useful content benefitting customers and brands alike. The Partnership attracts millions of customers every year across JohnLewis.com and Waitrose.com. 60% of John Lewis' orders now take place online, making it an increasingly popular tool for brand partnerships. Drawing on its AI-powered, API-first Retail Media Cloud, coupled with its experience supporting multi-brand retailers, Kevel has worked collaboratively with the John Lewis Partnership to develop a bespoke advertising platform that delivers advanced targeting. The first-party data allows brands to target customer segments that enable advertisers to reach the right shoppers at the right moment. It features easy self-service tools, enabling brand partners to go live with custom campaigns quicker than ever before, and supports native ads and sponsored listings across John Lewis and Waitrose websites. It also includes new 'ROPO' measurement capabilities; closed-loop reporting designed to reflect the 'research online, purchase offline' shopping habits of customers. For the first time, this allows brands to track whether their retail media has led to sales, even if the purchase is made in-store, by bringing in data like the use of a loyalty card. This helps close the long-standing gap in how brands measure the impact of onsite media on in-store sales. Kaitlin Craig, a digital retail media lead for the John Lewis Partnership said: "This is a huge step forward for our digital retail media offer. With over 160 years in retail, we hold really rich customer insights - and we're now able to share this with trusted partner brands." "By targeting our retail media, we can improve the experience for brands and customers alike - whether that's reminding customers of old favourites, or helping them connect with exciting new brands. The early results are exciting, and we're only getting started." James Avery, founder and CEO of Kevel, commented: "The John Lewis Partnership is exactly the kind of retailer Kevel was built for - a brand with deep customer loyalty, rich first-party data, and the ambition to own its media proposition rather than outsource it. We're proud to provide the infrastructure that gives them the control and flexibility to build a media network entirely on their own terms." The platform is being rolled out in phases, with display placements already live across John Lewis and Waitrose. Sponsored product ads will follow later this year. The Kevel partnership is the latest addition from the John Lewis Partnership as it looks to strengthen its retail media offer for its brands. Epsilon continues to oversee off-site advertising for John Lewis and Waitrose - including digital display and online video ads served across the open web and streaming services - whilst also offering first-party data and closed-loop measurement. In November, John Lewis also unveiled a seven metre-high digital billboard in the atrium of its Bluewater branch, to help bring cinematic above-the-line content to customers. The screen formed part of a series of high-impact touchpoints, with eight custom-crafted screens across the shop - which were quickly utilised by brands including Neff Appliances, Lego, Sony, and Samsung. Kevel. Kevel is powering innovative, flexible ad tech infrastructure APIs that fuel its Retail Media Cloud(TM). This unique offering empowers multi-brand retailers to launch differentiated retail media networks that improve the shopper experience while... Powered by PressBox

John Lewis strengthens retail media offer with new platform partnership. Department stores and grocery group the John Lewis Partnership has struck an alliance with specialist partner Kevel to ramp up its retail media proposition. The Partnership, which owns food retailer Waitrose and the eponymous John Lewis department stores business, has worked with technology specialist Kevel to "develop a bespoke advertising platform that delivers advanced targeting" for retail media customers such as brands.