Adtech startup BlendAI raises $1.5 million to automate e-commerce online ads
Summary
Machine learning algorithms distribute content and optimise budgets across multiple channels and helps with ongoing management, optimisation and content creation.Michael Bezman and Dean Krowitz cofounded their startup in 2021 having worked together in the industry and saw techs potential to boost efficiencies and profitability for busy small business owners.Krowitz said that SMB owners face increasingly complex ad channels, and can be overwhelmed with platforms such as Google or Facebooks ad manager to produce results.Channels are saturated and expensive. :For most SMB owners, Krowitz says, that level of complexity is beyond their capability and budget.The ongoing boom of e-commerce store ownership and the rise of platforms such as Shopify and BigCommerce has allowed many new entrants to enter the market. But development of the underlying tooling for these store owners to manage complex tasks such as advertising, has not kept up, he said.Weve seen a generational step change in e-commerce activity over the last two years. While we remain early in our journey, we have very strong inbound demand and have had quick take-up of the product by our first users.Cofounder Michael Bezman said theres an enormous global market, giving them a major opportunity to scale.Establishing ourselves in Australia is the short term goal but we have a global from day one product offering and we see major overseas opportunities in the not too distant future, he said.We remain driven and committed to driving the small business merchants of our economy and helping them to navigate the complex adtech environment. During customer conversations we frequently heard stories of large step changes in Return on Ad Spend (i.e. 2x to 16x uplifts), he said.In Michael and Dean we believe the business has the right founding partners to deliver on the vast market opportunity.
Funding
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