Advertising platform Zitcha has raised $4.7 million in Seed funding in a round led by local VC OIF Ventures.
The software platform allows retailers sell advertising space to suppliers to sell directly to their customers. It automates retail brand marketing purchases across retail channels such as email, apps, digital in-store screens, websites, and social media.
Retailers such as Adore Beauty and The Warehouse Group of New Zealand are customers, with brands such as Microsoft, LEGO, Asahi, Samsung and Nestle signing up with Zitcha to market their products, and directly with potential buyers just before purchasing. to speak.
The startup has offices in Melbourne, Sydney and Noosa and is now looking to the US for the next step in its global ambitions.
Co-founder and CEO Troy Townsend said she currently in talks with a number of top stores that want to use the platform to boost sales and marketing. A retailer can generate 90% of the revenue generated by brands’ advertising on its platforms, with the brands themselves 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 bringing it to North America, Asia and Europe,” he said.
“With OIF’s track record of working with founders and helping them launch in the US, they are the perfect investor for us.”
Its co-founder Jack Byrne said: “This funding allows us to increase the opportunity even further as we take advantage of our unique position to help retailers sell any marketing channel they want, in one place with their brand at the center and while retaining full control over first party data.”
OIF Ventures investor Oliver Darwin said retail media is fundamentally shifting the digital advertising landscape, giving retailers a high margin and advertisers a higher ROI.
“Troy and Jack have a unique understanding of the challenges facing the retail media ecosystem and have built a best-in-class platform to solve them with Zitcha,” he said.
“We are incredibly proud and excited to be working with the Zitcha team on this journey.”