Nexoya, a Zurich, Switzerland, and Berlin, Germany-based marketing analytics platform, raised $5 million in Series A funding from BlackSheep MadTech Fund.
With the fresh funding, Nexoya will accelerate growth, further develop its AI platform, integrate additional advertising channels, and thus make the digital advertising market more objective and automated with its AI technology.
The fresh capital will secure further growth in Switzerland and Germany and enable Nexoya to expand into new markets such as Italy and the UK.
Marco Hochstrasser, co-founder and CEO of Nexoya: “Overall, we see a very dynamic digital advertising market with incredibly fast developments. Especially with the success of large language models like ChatGPT, with the acquisition of Xandr by Microsoft, or with new advertising channels like Amazon Ads, Apple Ads, and Walmart Ads, the digital media world has changed strongly. Automated and data-driven portfolio management for digital marketing will therefore become significantly more important. As a cross-channel budget optimizer, we are right in the middle of this with Nexoya. We ensure that our customers can keep up with this dynamic and flexibly deploy advertising budgets where the potential is greatest for them.”
Nexoya has been automating and optimizing advertising budgets across channels for digital marketing since 2018 and integrates digital advertising channels and connects them with their AI-based solution.
Its SaaS platform "Nexoya Marketing Analytics" optimizes multi-channel marketing campaigns using artificial intelligence and machine learning.
The start-up currently employs a total of 24 people at its offices in Zurich and Berlin. The team is expected to grow to 30 by the end of 2023.
Company: Nexoya Ltd.
Raised: $5.0M
Round: Series A
Funding Month: March 2023
Lead Investors: BlackSheep MadTech Fund
Additional Investors:
Company Website: https://www.nexoya.com/
Software Category: Marketing Analytics Software
About the Company: Founded in 2018 by Marco Hochstrasser and Manuel Dietrich, Nexoya provides marketing analytics software. It has been implementing automated analyses for the digital marketing of medium- and large-sized companies—in a user-friendly manner and in compliance with data protection laws. The company’s software offers tools to evaluate the ad budget across various channels with its AI algorithm and analyze marketing performance to view KPIs and campaigns across various channels. Nexoya combines all campaigns with the same target across all channels into one portfolio and then optimizes the budget using predictive analytics across channels. Customers include well-known companies such as Generali, Yuh, Magix, Sunrise, and Kardex.
Source: https://www.nexoya.com/press-release-5-million-series-a-funding-for-marketing-ai-startup-nexoya/