Adbot, an ad-tech company offering AI-powered automated ad campaign management for SMEs, today announced the close of seed investment from Tofino Capital, an early-stage VC investing in viral business models in underinvested markets.
The investment will support Adbot’s expansion into new markets, such as Nigeria.
Details
Founded in 2020, Adbot has developed a cutting-edge platform that enables high-performance Google ad campaign management with basic inputs from a business user, such as target markets, keywords, and ad copy. Adbot’s system then adds more keywords, launches the campaign, and, using machine learning, constantly optimizes campaign performance to yield the highest click-through rate for the lowest cost.
Adbot’s system makes effective Google and Bing Ads accessible to African businesses of any size. Rather than outsource expensive campaign management, businesses can now deploy Adbot’s easy-to-use platform to generate advertisement results with any budget effectively. Adbot plans to support ad campaigns on other platforms starting in later half of 2023.
What They’re Saying
Michelle Geere, Director of Adbot, said, “We are extremely grateful for the support of Tofino Capital. This funding will allow us to take our business to the next level and lead the transformation from manual campaign management to digital, dynamic, intelligent, automated, self-service marketing. We are excited about the Nigerian market opportunity and the potential to integrate our service with existing firms that provide business services to SMEs. “
General Partner of Tofino Capital, Eliot Pence, added, “The ad space in Africa is not as commodified as in more developed markets, yet billions of customers are coming online in the next decades. This means there is a huge capability gap for businesses trying to reach these customers. Automated services, like the one Adbot is building, will be the key for businesses to tap into Africa’s evergrowing customer base effectively. We are excited to support Adbot’s expansion across Africa.”
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