Adspert Secures Seven-Figure Investment from IBB’s ProFIT

Adspert Secures Seven-Figure Investment from IBB’s ProFIT

Adspert, a bid management tool that helps companies make more money out of Google AdWords, has secured an undisclosed seven-figure investment from the Investitionsbank Berlin (IBB) through its ProFIT program. The platform allows users to optimise and automate their AdWords accounts, with the startup claiming on its website that it can lead to a 20 percent increase in profit and enormous time saving.

The new funding will be put towards improving the Adspert technology as well as developing new features to make it easier to use, according to CEO Marcel Pirlich.

Adspert works as a forecasting technology for search engine marketing – it uses recognised forecasting models as well as factors such as which time of day it is to identify the most profitable bid for both search and display ads. These are the two kinds of adverts which companies bid to use on Google AdWords: Depending on how much you bid and how high your Quality Score is, your ad appears when specific terms are searched for, or on partner websites with relevant content.

With Adspert, all available keywords are managed and optimised at least five times a day to produce the 20 percent increase in performance.

Marcel Pirlich said improving the quality of forecasting to help customers make more money was a keey aim: “We are refining our algorithms, especially in the long tail, that is search terms that go beyond the major, highly competitive keywords.”

“Adspert is focused on the rapidly growing market of performance marketing and offers a product with a novel approach,” said Matthias Treptow of förderbar, who acted as a financing consultant to the management team. “The further development of the highly innovative algorithms will further extend Adspert’s technological lead. With its offer of financing, IBB is choosing to support a company that emphasizes the innovative power of the IT and internet industry in Berlin.”

The IBB is the development banking arm of the Berlin Senate, and ProFIT (Programm zur Förderung von Forschung, Innovation und Technik, or Program for the Development of Research, Innovation and Technology), co-financed by EFRE, is its central innovation program aimed at technology-centric projects of all descriptions. Its startup investments include ExploreB2B and PressMatrix.

About David Knight

David is co-founder and Editor-in-Chief of Silicon Allee. Originally from London, he has lived in Berlin for over seven years, having previously worked for news portals including Bild.de and Spiegel Online before helping to found Silicon Allee in 2011.

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