Zitcha, a Melbourne, Australia-based advertising platform that lets retailers sell advertising space to suppliers to market directly to their customers, raised $4.7 million in seed funding round led by local VC OIF Ventures.
This funding will enable Zitcha to grow the opportunity further as they capitalize on its position to help retailers sell any marketing channel they want.
Troy Townsend, co-founder and CEO of Zitcha, said they're currently in discussions with a number of top-tier retailers looking to use the platform to bolster revenue and marketing. A retailer can pocket 90% of the revenue generated by brands advertising on its platforms, with the brands self-serving their own campaigns using the customer data within the retailers. "Since Zitcha's official launch in June, the interest from retailers in Australia and beyond has been incredible. We are rapidly scaling the business and taking it to North America, Asia, and Europe," he said. "With OIF's track record of partnering with founders and helping them launch in the US, they are the perfect investor for us."
The startup has offices in Melbourne, Sydney, and Noosa and is now looking at the US for the next step in its global ambitions.
Company: Zitcha Pty Ltd
Raised: $4.7M
Round: Seed Round
Funding Month: November 2022
Lead Investors: OIF Ventures
Additional Investors:
Company Website: https://www.zitcha.com/
Software Category: All-channel Retail Media Technology Platform
About the Company: Zitcha is a SaaS platform that links brands' first-party data to sellable ad inventory across owned assets and off-platform on Google, Facebook, and YouTube. It automates marketing purchases by retail brands on retailer channels such as email, apps, digital in-store screens, websites, and social media. Its clients range from Australian mid-tier retailers to global retail giants. Retailers include Adore Beauty, Liquorland, First Choice, Bottlemart, Vintage Cellars, Noel Leeming, TheMarket, The Warehouse, MyFoodBook, and The Warehouse Stationery. Brand advertisers include Sennheiser, Dyson, and Nestle. Zitcha's mission is to revolutionize retail media is some of the industry's best, handpicked from all over the digital ecosystem, from performance media to web development, design, retail, and tech.
Source: https://www.startupdaily.net/topic/funding/adtech-platform-raises-4-7-million-seed-round-to-help-retailers-make-a-buck/