Adwisely secures $1.5m seed round led by TMT Investments
Adwisely, formerly known as RetargetApp, an ad automation platform for e-commerce DTC brands, has announced a $1.5 million seed round, led by TMT Investments.
There was also participation from Gaingels, Mana Ventures, Cabra VC, ICU Ventures, and a group of angel investors, including Wrike’s Andrew Filev.
The investment brings the company's total funding to $3.9 million.
It plans to use the new funds to integrate with more advertising platforms that have the highest potential for fast growing DTC brands, such as TikTok, Pinterest, and Twitter, before raising Series A cash later this year.
“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," says Paul Matvienko, CEO and Founder at Adwisely.
"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."
"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,” says Igor Shoifot, partner at TMT Investments.
“It's hard for business owners to harness marketing and sales optimisation, 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 its angel and VC investor. The company has grown fast, helping small and medium businesses in key growth areas: sales, conversion, subscription growth.”
"To date, there are five 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,” says Lorenzo Thione, Managing Director at Gaingels.
“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 become a part of their story and contribute to their growth and success.”
