RedTrack receives USD 3.2 million

Funding round supports product and automation enhancements for RedTrack's digital advertising platform

Vilnius, Lithuania (October 9, 2024) - RedTrack, an AI-driven analytics and automation platform for media buying, has successfully closed a $3.2 million Series A funding round. The round was led by LeadVentures, with participation from InstaVC, IronWolfCapital and angel investor Balazs Gandera. The new funds will be used to strengthen the product team, accelerate AI product development and further expand existing market share in the US. These improvements should ensure that RedTrack remains an indispensable tool for media buyers worldwide, especially in the e-commerce and direct-to-consumer sectors.

Advertising tracking across multiple platforms

RedTrack provides a platform that enables companies to track, analyze and optimize their advertising campaigns across multiple channels. This gives them deeper insights into performance and return on investment (ROI). With the new funding, RedTrack plans to continue to drive AI development, increase market penetration in the US and further improve the tool for media buyers.

Now we are focusing on further improving the tool and developing a multi-touch attribution model to help companies understand every interaction in the customer journey."

Vladyslav Zhovtenko, CEO of RedTrack

RedTrack currently supports over 800 companies, including e-commerce stores and marketing agencies, and manages 60,000 advertising accounts that generate more than USD 2 billion in total revenue. The platform seamlessly integrates with social networks and shopping platforms such as Facebook, TikTok, Google, WooCommerce and Shopify to help media buyers optimize their advertising decisions.

RedTrack addresses market issues in the digital advertising market

The global digital advertising market is growing rapidly, reaching a revenue of USD 225 billion in 2023 according to the IAB/PwC Internet Advertising Revenue Report. However, small and medium-sized enterprises (SMEs) often struggle to compete with larger brands due to fragmented data sources and the elimination of third-party cookies. RedTrack offers these SMEs an affordable, unified platform that is just as powerful as the tools used by large enterprises and agencies.

AI-driven features for optimized campaign performance

RedTrack's AI-powered tools enable media buyers to automate many aspects of their campaign management, allowing them to focus on strategic and creative tasks. The platform provides data-driven insights to optimize budget decisions, avoid mistakes and improve overall campaign performance.

RedTrack has created an efficient and intelligent platform for SMEs and we look forward to supporting the company as it continues to grow.

Balázs Haszonics, CEO of LeadVentures

Expanding its presence in the US market

With 45% of its user base in the US, RedTrack has gained strategically important market share. The new funding will help to further expand its offering to US-based marketing agencies and e-commerce companies. At the same time, RedTrack will continue to develop its proprietary high-load data collection technology to enable companies to collect and manage their performance data.