RedTrack Secures €3.2 Million in Series A Funding to Empower Media Buyers with AI-Driven Analytics and Automation

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Vilnius, Lithuania – [10-Oct-2024]RedTrack, a cutting-edge AI-powered analytics and automation platform tailored for media buyers, has successfully closed a €3.2 million Series A funding round. This round was led by LeadVentures, with participation from InstaVC, IronWolfCapital, and notable angel investor Balazs Gandera.

RedTrack’s innovative technology currently tracks 60,000 ad accounts, generating over $2 billion in revenue for more than 800 businesses, including e-commerce retailers and marketing agencies. The newly acquired funds will be utilized to strengthen RedTrack’s product team, expedite AI product development, and capitalize on the company’s existing momentum in the U.S. market. These enhancements aim to ensure that RedTrack remains an essential tool for media buyers worldwide, particularly in the e-commerce and direct-to-consumer sectors.

According to the IAB/PwC Internet Advertising Revenue Report, internet advertising revenues reached an all-time high of $225 billion in 2023, with social media advertising contributing $64.9 billion. However, the digital ad tracking and optimization market is becoming increasingly fragmented, making sophisticated solutions unaffordable for all but the largest brands and agencies. Small and medium-sized enterprises (SMEs) often rely on manual logging and disjointed tracking services from major platforms like Google and Facebook, which do not incentivize businesses to diversify their ad spending across multiple channels. This has led to inconsistent data sources and significant challenges for digital marketers, especially in the wake of declining third-party cookie support.

RedTrack provides a much-needed, affordable solution for SMEs, enabling them to access sophisticated analytics tools previously available only to larger corporations and agencies. Instead of navigating multiple analytics trackers and disconnected ad platforms, SME media buyers can seamlessly track performance, gain deep insights, and automate decisions using RedTrack. The platform is designed to provide comprehensive visibility into every aspect of ad campaigns, from initial awareness to performance measurement. Its seamless integration with popular social media and e-commerce platforms like Facebook, TikTok, Google, WooCommerce, and Shopify enhances its functionality.

“RedTrack initially distinguished itself by merging analytics and automation into one cohesive platform, and we’ve offered this solution to our customers at a transparent and predictable price,” said Vladyslav Zhovtenko, CEO of RedTrack. “Now, with this funding, we are committed to enhancing our platform and developing a multi-touch attribution model. This allows businesses to see the entire funnel and understand every interaction, providing a holistic view for digital marketers across various industries.”

The AI-powered features of RedTrack offer accurate insights into digital ad campaigns, enabling media buyers to focus on strategic thinking and creativity rather than getting bogged down by data management. With AI-driven tools, users can avoid common pitfalls and make informed budget decisions, resulting in more engaging campaigns and improved conversion rates.

Balázs Haszonics, CEO at LeadVentures, commented, “RedTrack has identified the fundamental challenges that many e-commerce and direct-to-consumer businesses face in digital marketing. They have created an affordable and transparent solution that is efficient and intelligent enough for marketing teams of all sizes. We are excited to support their continued growth, given their proven marketability and innovative approach to feature development.”

A significant portion of RedTrack’s growth is attributed to marketing agencies and e-commerce businesses in the United States, which now account for approximately 45% of its user base. The funds from this round will further enhance RedTrack’s penetration into the U.S. market, allowing the company to better serve its growing clientele.

Additionally, RedTrack has developed proprietary high-load data collection and processing technology that empowers businesses to collect and own their performance data. This capability will be further refined with the new investment, positioning RedTrack as a leader in combining sophisticated automation with powerful analytics technology, ultimately reimagining the future of smart digital marketing.

About RedTrack

RedTrack is a Vilnius-based AI-driven analytics and automation platform designed to support media buyers in optimizing their digital marketing strategies. By providing affordable and sophisticated solutions, RedTrack empowers businesses of all sizes to effectively manage their advertising efforts and maximize return on investment.


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