RedTrack raises $3.2M in Series A investment to provide media buyers with AI-powered insights and automation
RedTrack, an AI-driven media analytics platform, has raised $3.2 million in a Series A funding round led by Lead Ventures. The funding will be used to strengthen the product team, accelerate AI development, and expand into the US market.
RedTrack is an AI-driven platform that helps e-commerce media buyers make informed decisions and scale campaigns for revenue growth. The solution easily integrates with platforms like Facebook, TikTok, Google, and Shopify, providing a comprehensive view of campaign performance.
Founded in 2017 in Vilnius by Ukrainian entrepreneur Vladyslav Zhovtenko, it serves over 800 businesses globally, including eCommerce shops and marketing agencies, across more than 100 countries. The platform manages 60,000 ad accounts and helps generate over $2 billion in revenue.
“We initially distinguished ourselves by bringing analytics and automation together, and then by offering this package to customers at a super transparent and predictable price. Now that we’ve done that, we’re focusing on improving the platform and building a multi-touch attribution model. When you’re selling a complex product, one touchpoint isn’t enough. RedTrack lets businesses see the entire funnel and understand every interaction. This funding round will boost our efforts to provide this holistic view for digital marketers in companies across industries,” Vladyslav Zhovtenko, CEO of RedTrack, says.
Using RedTrack’s solution, media buyers are free to devote their energy to broader-thinking strategy and creativity, also allowing them to avoid common pitfalls and make smarter budget decisions. The end result is more engaging campaigns with better conversion numbers.
Lead Ventures provided the majority of the financing in the startup. Other prominent venture capital firms like InstaVC, Iron Wolf Capital, and angel investor Balazs Gandera, also participated in the round.
“RedTrack understood the fundamental disadvantage many e-commerce and DTC businesses face when it comes to digital marketing. Not only did they build an affordable and transparent solution for these SMEs, they created a platform so efficient and intelligent that it’s useful to digital marketing teams in companies of all sizes. They’ve already proven their marketability and their forward-thinking tendencies when it comes to features, and we’re happy to help them continue this growth,” Balázs Haszonics, CEO at LeadVentures, states.
The fresh funds will be used to strengthen the product team, accelerate AI product development, and capitalise on existing inroads into the US market. RedTrack's improvements will ensure its continued relevance as a crucial tool for media buyers globally, especially in the ecommerce and direct-to-consumer sectors.
