Multichannel successfully raises USD 3M in seed funding
Multichannel, a US and Hong Kong-based full-automated ad management startup raises USD 3 million in seed funding. Their core business is to help marketers fully automate their advertising online and to focus on developing their campaigns instead of monitoring dashboards the whole day.
It has raised USD 3 million in seeding funding that includes the Hong Kong Government, founder Dmitry Fedotov, angel investor Kevin Ng and an undisclosed venture capital firm. With the new injected funding, they plan to speed up the development of its automated platform which they proudly describe as "Rocket Fuel on steroids." Multichannel's cloud-based software uses algorithms to manage advertising campaigns online across different channels with seaarch engines like Baidu, Yahoo, and Google.
In order to use the marketing platform, companies have to first and foremost, add each of their advertising channels to the dashboard. Then the software looks at the date from the company's past and present advertising campaigns and from there give out recommendations on which regions to place ads. Its bid management system also automates, manages rates for different keywords and guards against "click fraud," which unscrupulous advertising channels use to inflate rates artificially.
Multichannel added that its advantages over other ad management products include lower costs for companies, less administrative tasks and potential "unlimited scalability" into advertising channels acorss the world regardless of currency or local regulations (perfect for companies that target companies seeking to advertise in China) and language.