Web3 growth marketing firm Addressable raises $6M

Addressable Ltd., a company that helps blockchain and crypto companies advertise to customers, today announced it raised $6 million to help it expand its service to more blockchains and reach more advertising networks.

The funding round was led by Bitkraft Ventures, with participation from strategic investor Karatage. Existing investors Viola Ventures, Fabric Ventures, Mensch Capital Partners and North Island Ventures also joined the round, bringing the total raised by the company to $13.5 million following a $7 million fundraise earlier this year.

Blockchain technology, otherwise known as Web3, or the decentralized web, works peer-to-peer, allowing users to transfer cryptocurrency tokens between one another without the need for middlemen, which permits developers and companies to create apps that eschew traditional financial establishments such as banks. The problem that comes with this peer-to-peer approach for marketers is that audiences are also relatively anonymous and dispersed across global marketing channels, making them difficult to target and understand.

Addressable’s platform “addresses” this problem by providing a way for advertisers to target audiences in a Web3-savvy way across over 400,000 websites, including major media outlets such as Bloomberg, The New York Times and Yahoo Finance. This allows marketing campaign owners to understand if their audiences are engaging with their advertisements and other interactions across both Web 2.0 and Web3 such as purchasing and using crypto assets and Web3 in-game purchases.

The company has now expanded from its initial coverage of the Twitter ad network and added three new networks including Unity, Pubmatic and Magnite. This gives marketing campaigns more coverage channels across social networks, websites and mobile apps to reach audiences.

Using big data and advanced artificial intelligence technology, Addressable said that it has been able to blend the anonymity-centric realm of Web3 wallets and anonymized identity layers of Web 2.0 ad networks. The company said that this means that its platform is not just a tool for marketers, but an essential component for Web3 companies to evolve their growth efficiently with marketing avenues to target and understand their audiences.

Addressable’s Chief Executive Tomer Sharoni said that the company is committed to “revolutionizing Web3 growth,” as the necessity of the adoption continues to become “even more important in the current market.”

To make it easier for businesses to track conversions, the company provides a 1-click software development kit, which has been approved by Google LLC. It is available on the Google Tag Manager, which simplifies the integration process and makes it easy to track blockchain wallet connects and conversions. Users can connect with Mixpanel, Twitter Pixel and Google Analytics to more easily add event tracking.

“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,” said Malte Barth, founding general partner at Bitkraft Ventures. “The Addressable team distinguishes itself through its battle-tested magic in data and product development, along with a world-class track record in execution.”

Image: Vasin Lee