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Los Angeles, CA-based Adtech startup, Adwisely (formerly RetargetApp) has raised $1.5 million in series seed round funding led by TMT Investments.
The round also saw participation from Gaingels, Mana Ventures, Cabra VC, ICU Ventures, and a group of other angel investors including Wrike’s Andrew Filev.
“The platform plans to use the new funds to integrate with more advertising platforms with the highest potential for the fast-growing DTC brands such as TikTok, Pinterest, and Twitter, before raising Series A later this year,” the statement said.
Additionally, the company announced a new growth solution that combines the full benefits of the Adwisely ad automation platform with unique human expertise for more complex and large-scale projects.
Speaking on the fundraise, Paul Matvienko, CEO & founder of Adwisely said, “We have seen a huge demand for our platform skyrocket as raising advertising costs put thousands of businesses at risk. The new investment allows us to cater to the needs of even more advertisers as we integrate with more advertising platforms our customers rely on and help diversify their ad streams.”
“Our team of Ukrainian pros is now distributed across the world and working hard towards our big goal to fully replace the need in traditional advertising agencies for the developing e-commerce DTC brands with an ad automation tool-box that’s faster, cheaper, and more efficient,” Matvienko added.
Commenting on the investment in Adwisely, Igor Shoifot, Partners at TMT Investments said, “Growing SMBs are inundated with fierce competition in increasingly complex marketplaces, and Adwisely is the lifeline they need to get seen and heard above everyone else. It’s hard for business owners to harness marketing and sales optimization, and while there are plenty of automation tools out there, very few are risk-free, easy to understand, and efficient.”
“Adwisely empowers online sellers to deploy marketing and sales expertise typically reserved only for specialists with in-depth expertise in the permanently changing ad market. I’m proud to be Adwisely’s angel and VC investor. The company has grown fast, helping small and medium businesses in key growth areas: sales, conversion, subscription growth,” Igor Shoifot added.
Further talking about the investment, Lorenzo Thione, MD at Gaingles said, “To date, there are 5 million e-commerce SMBs with high potential struggling with promotion and who are unable to afford agencies – which, in addition to high price tags, often fail to deliver results. Young tech-savvy generations add to the struggle as they are hard to impress with online ads. We have seen Adwisely help brands solve these issues and achieve incredible results, and we are looking forward to becoming a part of their story and contributing to their growth and success.”