Kevel raises $52m with M&A on the brain and GAM in its sights

Retail media infrastructure firm Kevel has closed a $52m Series D, bringing total funding past $100m, with chief executive James Avery telling AdExchanger "consolidation is going to happen" and that the company is "pretty close to profitable". Kevel runs a traditional ad server alongside its retail media business, and Avery is eyeing the Google ad-tech remedies: "I'm really excited to integrate with AdX. I've only been trying to do it for 16 years." Seen in: AdExchanger (Allison Schiff).