Admazely closes funding round led by SEED Capital to bring retargeting to small online retailers

Admazely, a Copenhagen-based startup claiming to deliver ’retargeting for the masses’, have raised seed funding for its self-service retargeting product. The round was led by SEED Capital with business angels Martin Bochineck and Christina Rind participating. Niels Vejrup Carlsen of SEED and Martin Bochineck will join the board.

Admazely targets SMB online retailers, whom the company claims “are simply too busy and strapped for resource to leverage the advanced and complicated offerings from established players in the online targeting space”. By leveraging artificial intelligence to simplify users’ workflow, the startup looks to thrive on the more than 95% of online retailers, who currently are not using retargeting, according to Forrester Research.

Busy space ripe for disruption
Retargeting has spread like wildfire throughout the online advertising industry in the past few years, gaining general acknowledgement for its efficiency as a targeting tactic. Both US vendors such as AdRoll and Fetchback as well as European competitors Criteo and Struq have seen impressive growth with their retargeting offerings. This has spawned a number of me-too companies. But founder and CEO, Peter Schlegel, emphatically argues that Admazely represents a genuinely novel approach to the scene.

“Sure, loads of vendors offer retargeting these days. However if you look at the clients buying it, it’s still the usual suspects of large and sophisticated advertisers. What we offer is a unique and extremely easy way for smaller online retailers to launch a campaign that combines dynamic ad creative with retargeting. Key to what we have done is to develop advanced artificial intelligence that understands and handles content in the shop at an exceptionally accurate level, completely removing the need to integrate between the commerce backend and the ad server. And that a) hasn’t been done well before and b) gets online retailers reaching out to us literally daily to get their hands on what we’re building.”

SEED Capital are excited about the prospects for Admazely and the team: “We’ve been following the team for six months and have rarely seen a group of individuals with as much talent and dedication. They have shipped code aggressively and according to schedule. They solve a hard problem in an industry that we believe is ripe for a bit of disruption. Their customers are excited about their product. In other words, they have the characteristics of a game-changing company and we’re proud to be behind the team”, says the newly appointed Chairman, Niels Vejrup Carlsen of SEED Capital.

While the advertising space seems very busy, it is worth noting that industry research shows that less than 5% of online retailers in the US are currently leveraging retargeting. While the share of shops doing it is on the rise, 95% of the market seems a goal worth taking a stab at for Admazely.

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About Admazely
Admazely is a Copenhagen-based advertising technology company that offers personalised retargeting for webshops. It is the simplest option for time-sensitive commerce professionals, providing a hassle-free, integration-free and risk-free solution to bring back non-converting webshop visitors on a Pay-Per-Click basis.
The company was founded in 2011 by Peter Vilsholm Therkildsen Schlegel, David Björklund, Sylwia Erhardt-Bednarska and Søren Holbech Nielsen and launched the first version of its platform earlier this year.

For inquiries, please contact CEO Peter Vilsholm Therkildsen Schlegel on +45 31142494 or [email protected]

About SEED Capital
SEED Capital is Denmark’s biggest venture capital fund within the seed segment and specializes in identifying, financing and developing competent and innovative entrepreneurial companies developing the Life Science, Cleantech and IT companies of the future from seed stage to exit.

For inquiries, please contact Investment Director Niels Vejrup Carlsen on +45 29891404