- The platform offered by Addressable enables advertisers to effectively target audiences with a Web3-savvy approach across a vast network of over 400,000 websites.
- Addressable has cleverly combined advanced artificial intelligence and big data technology.
Addressable Ltd., a firm specializing in facilitating advertising for blockchain and cryptocurrency enterprises, revealed today that it has secured funding of USD 6 million. This financial boost aims to support the company in extending its services to additional blockchains and broadening its presence across various advertising networks.
Bitkraft Ventures spearheaded the funding round, supported by strategic investor Karatage, with contributions from current backers, including Viola Ventures, Mensch Capital Partners, Fabric Ventures, and North Island Ventures. This latest funding round brings the company’s total raised capital to USD 13.5 million, building upon the USD 7 million raised earlier this year.
Web3, commonly referred to as blockchain technology or the decentralized web, operates on a peer-to-peer basis. This enables users to exchange cryptocurrency tokens directly, eliminating the necessity for intermediaries. Consequently, developers and businesses can design applications that circumvent traditional financial institutions like banks. However, the challenge for marketers arises from the peer-to-peer nature of this approach, as audiences are both relatively anonymous and spread across global marketing channels. This dispersion makes it challenging for marketers to effectively target and comprehend their audience.
Addressable’s platform effectively tackles this challenge by offering advertisers a means to target audiences in a Web3-savvy manner on over 400,000 websites. These include prominent media outlets like Bloomberg, The New York Times, and Yahoo Finance. This capability enables marketers to assess the engagement of their audiences with various interactions, spanning both Web 2.0 and Web3. Such interactions encompass activities like purchasing and utilizing crypto assets and making in-game transactions within the Web3 environment.
The company has broadened its coverage beyond the initial inclusion of the Twitter ad network and has incorporated three additional networks—Unity, Pubmatic, and Magnite. This expansion provides marketing campaigns with more channels, spanning social networks, websites, and mobile apps, facilitating broader reach to diverse audiences.
Harnessing big data and advanced artificial intelligence technology, Addressable has successfully merged the privacy-focused domain of Web3 wallets with the anonymized identity layers of Web 2.0 ad networks. The company asserts that this integration positions its platform not merely as a marketing tool but as a crucial element for Web3 companies. It serves as an indispensable resource, enabling these companies to efficiently advance their growth by providing effective marketing channels to target and comprehend their audiences.
Tomer Sharoni, the Chief Executive of Addressable, affirmed the company’s dedication to “revolutionizing Web3 growth,” as the imperative for adoption persists to become “even more important in the current market.”
The company offers a Google LLC-approved, one-click software development kit to facilitate the tracking of business conversions. This kit is accessible through Google Tag Manager, streamlining the integration process and simplifying the monitoring of blockchain wallet connections and conversions. Users can effortlessly link with Mixpanel, Twitter Pixel, and Google Analytics, enhancing the ease of event tracking.
Malte Barth, Founding General Partner at Bitkraft Ventures, said, “Addressable’s innovative Web3 growth suite stands out as a game-changer, offering marketers powerful tools to navigate this dynamic landscape and create profitable user growth at scale. The Addressable team distinguishes itself through its battle-tested magic in data and product development, along with a world-class track record in execution.”