Crealytics successfully closes series c funding round
Crealytics, a Mountain Partners portfolio company, announced the close of USD 9.3 million in Series C financing from a group of private investors. The raise signals a progressive, mounting movement toward investments outside the typical ad tech hype cycle and supports innovation at the intersection of ad tech and retail business technology. Crealytics, paid search and Google Shopping leader, will use the funds raised to scale rich intersection of ad tech and retail technology.
Crealytics is broadening and strengthening its feed-based ad platform in ways its competitors have yet to venture. As MediaPost recently reported, Crealytics sees an opportunity to combine ad tech and enterprise resource planning, or ERP — a process-management software that connects advertising to sales and inventory — to help businesses in a new way, radically eliminating the waste of lost opportunity and maximizing Return On Investment.
Crealytics helps leading international e-commerce companies drive performance in product advertising and paid search globally in more than 20 languages. Its semantic technology Camato automatically creates and optimizes millions of tailor-made ads, helping its partners make advertising more profitable. Investors – Optima, Alternative Strategic Investment, LBBW Venture Capital, High-Tech Gründerfonds, Mountain Internet, Bayern Kapital and Chancenkapital Biberach – supported its creation of Camato and now support its continued expansion.
“For all of the data companies have collected in recent years, there are still a number of open questions,” said Andreas Reiffen, CEO of Crealytics. “We plan to use the investment to answer some of these questions, principally addressing the interdependencies of inventory, pricing and bidding across multiple advertising channels. How should a company price and advertise its goods when it has too many items in stock? What about when it has too few?”
Ultimately, Reiffen says they will enable brands to bid for digital shelf space on retail websites across the web, unifying business intelligence and data-driven marketing/advertising, at high scale.