RedTrack, an AI-driven analytics and automation platform for media patrons, has closed a €2.9 million Sequence A funding spherical. The spherical was led by LeadVentures with participation from InstaVC, IronWolfCapital, and angel investor Balazs Gandera.
RedTrack’s know-how is getting used to trace 60,000 advert accounts which generate over $2 billion in income for over 800 companies, together with ecommerce outlets and advertising companies. The brand new funds will likely be used to strengthen the product workforce, speed up AI product improvement, and capitalise on present inroads into the U.S. market. These enhancements will make sure that RedTrack stays an indispensable device for media patrons globally, significantly within the ecommerce and direct-to-consumer industries.
In line with the IAB / PwC Web Promoting Income Report, web promoting revenues hit their highest-ever recorded degree of $225 billion in 2023, with $64.9 billion coming from social media promoting alone. However, the marketplace for digital advert monitoring and optimization is changing into fragmented, and complicated options are prohibitively costly to everybody however massive manufacturers and companies.
SMEs should resort to handbook logging and disaggregated monitoring companies supplied by platforms like Google and Fb. Because it isn’t the curiosity of those main platforms for companies to diversify their advert spending throughout a number of channels, their instruments don’t encourage it. With inconsistent information sources and the decline of third-party cookies in recent times, digital entrepreneurs wrestle greater than ever to get an correct evaluation of their advert spending.
RedTrack offers this under-served market of SMEs an reasonably priced resolution that’s simply as refined as these being utilized by main firms and companies. As a substitute of leaping between analytics trackers and disconnected advert platforms, then attempting to trace and log all these analytics manually, SME media patrons can observe efficiency, acquire deep insights, and automate selections on RedTrack. Each facet of RedTrack’s mixed analytics and automation platform is designed to let companies see and measure their advertisements, from preliminary awareness-building to efficiency. Companies use it to higher perceive which channels are driving acquisition and retention, going past normal marketing campaign efficiency metrics. Seamless integration with social-media and procuring platforms like Fb, TikTok, Google, WooCommerce, and Shopify are in-built.
Vladyslav Zhovtenko, CEO of RedTrack, stated: “We initially distinguished ourselves by bringing analytics and automation collectively, after which by providing this package deal to prospects at an excellent clear and predictable value. Now that we’ve performed that, we’re specializing in enhancing the platform and constructing a multi-touch attribution mannequin. If you’re promoting a fancy product, one touchpoint isn’t sufficient. RedTrack lets companies see all the funnel and perceive each interplay. This funding spherical will increase our efforts to offer this holistic view for digital entrepreneurs in firms throughout industries.”
With RedTrack’s AI-powered options offering correct information about digital advert campaigns and managing adjustments to optimize efficiency, media patrons are free to dedicate their power to broader-thinking technique and creativity. Highly effective AI-based instruments present data-backed insights to assist customers keep away from frequent pitfalls and make smarter price range selections. The tip result’s extra partaking campaigns with higher conversion numbers.
Balázs Haszonics, CEO at LeadVentures, commented: “RedTrack understood the elemental drawback many e-commerce and DTC companies face in relation to digital advertising. Not solely did they construct an reasonably priced and clear resolution for these SMEs, they created a platform so environment friendly and clever that it’s helpful to digital advertising groups in firms of all sizes. They’ve already confirmed their marketability and their forward-thinking tendencies in relation to options, and we’re glad to assist them proceed this progress.”
A lot of this progress is pushed by advertising companies and ecommerce companies based mostly in the USA, the place RedTrack has already constructed a legally compliant enterprise construction. U.S.-based firms and companies now account for some 45% of the platform’s consumer base. By directing the funds in direction of improved penetration of the U.S. market, RedTrack can higher meet the wants of an more and more substantial proportion of its prospects.
RedTrack just lately developed proprietary high-load information assortment and processing know-how to allow companies to gather and personal their efficiency information. This characteristic will likely be additional enhanced by the funds supplied on this Sequence A spherical. In merging refined automation with highly effective analytics know-how and price effectivity, RedTrack is rethinking how good digital advertising can and needs to be.
