Russian venture fund AddVenture has invested an undisclosed amount in K50, a Moscow-based startup which is developing an optimization and analytics solution for the contextual advertising market. The deal valued the startup at $5 million. K50’s founding team, which previously financed the startup, will retain a controlling stake.
Founded in 2012, the startup launched its first product in June last year. This SaaS product, christened ‘K50:Generator,’ provides users with all the necessary tools for creating contextual ad campaigns.
This was followed in December by ‘K50:Statistika,’ a free product which links to users Yandex.Direct and Google Analytics accounts, providing daily statistical analysis. Over 100,000 people users registered with the service within seven days of its launch. An analogous paid service, ‘K50:Pravila’, was launched earlier this year.
“A few months after starting up, we found that there was a real problem in terms of our products being properly understood by advertisers,” conceded K50 CEO Georgiy Ternovsky.
“We decided to address this by changing our focus to developing simpler software which could be used more widely, and soon our products started to gain popularity,” the entrepreneur added.
The latest capital injection will allow the startup to develop marketing activities, upgrade its technological platform, and expand its product line.
“There is a clear current trend towards transparency, measurability and effectiveness in global digital advertising in the e-commerce sector,” commented Pavel Terentyev of AddVenture. “And there is an increasingly strong demand amongst advertisers for straightforward tools to create, manage and analyse the impact of their campaigns. K50’s products address this need directly, not only in terms of digital advertising channels, but also for telephone advertising.”
An important player on the Russian venture scene, AddVenture was launched in 2008. The fund continues to focus on consumer web (lead generation, marketplaces, drop shipping ecommerce). “We are now evaluating opportunities in CRM, call tracking, online chats, analytics tools and many other services that enable to sell more, make upsells and crosssells, track the ecommerce funnel more accurately, return sleeping customers and so on,” AddVenture co-founder Maxim Medvedev told East-West Digital News.
Following a growing trend among Russian high-tech investors, AddVenture is also broadening its geography. “We are looking at both European and Latin American startups,” Medvedev said.
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