Funnely, a data-driven SaaS company that helps e-commerce marketers increase ROI by automating Facebook and Instagram ads, today announced a $988,000 seed round led by Verizon Ventures with participation from 500 Startups, MITS Fund and Pallasite Ventures. With funding from this round, Funnely will expand product development, sales and marketing efforts.
'With 2.5 million monthly active advertisers on Facebook and an increasing number of advertisers on Instagram, e-retailers need a deep understanding of granular ad allocation to optimize their budget now more than ever,' said Lucila Campos, CEO at Funnely. 'While optimization was once a complex problem, Funnely's data-driven SaaS solution simplifies the creation and optimization of campaigns to cover every step of the funnel with targeting, budget and content, and increases marketing campaign ROI by lowering the cost per purchase.'
Funnely is a data-driven SaaS solution that helps e-commerce marketers automate Facebook and Instagram ads, increasing ROI by lowering the cost per purchase and A/B testing times. Funnely creates and optimizes a group of campaigns to cover the entire sales funnel from lead-gen to granular retargeting. It optimizes ad dollar allocation dynamically based on first-party data and assigns audiences for each campaign including audience exclusions to avoid overlapping clusters. The solution also automates Facebook and Instagram ad placements and bidding and pre-selects ad types for each level of the funnel to deliver the best performance.
'E-commerce marketers are looking for solutions that make sense of available data to find new customers and unlock new revenue streams using easily understood technologies,' said Mark Smith, executive director at Verizon Ventures. 'Funnely has developed a unique solution to help e-commerce companies drive better performance through data and automation and I am pleased to welcome them to the portfolio.'
NativeShoes.com increases ROAS, online sales and e-purchase rates with Funnely
NativeShoes.com is a Canadian-based shoe company that combines innovative materials with classic designs. The marketing team wanted to scale sales from Facebook to their online store without the expertise to structure their campaigns with their sales funnel and with limited time for A/B testing. After working with Funnely, NativeShoes.com increased ROAS by 7x, online sales by 2.5x and e-purchase rates by 5x. For more information on how NativeShoes.com is using Funnely go to: http://snip.ly/2VHJ.
About Verizon Ventures
Verizon Ventures seeks and invests in promising entrepreneurial companies who are tackling some of today's biggest technological challenges for Verizon's consumer and enterprise customers. Over the last decade Verizon Ventures has invested in more than forty companies covering a range of industries, technologies and market segments. Verizon Ventures offers support to its portfolio companies with technology and product development, market planning and sales, and access to the networks and platforms of Verizon Communications. Combining the power of experienced investment professionals with a focused venture development team, Verizon Ventures connects innovators with strategic and financial resources that advance their businesses. For more information, visit http://www.verizonventures.com/.
About Funnely
Funnely is a data-driven SaaS that helps ecommerce marketers automate Facebook and Instagram ads while increasing their ROI and online sales. Also a Facebook Marketing Partner, it creates thousands of ads to run simultaneously with just a few clicks. Funnely drives better-performing ads by leveraging ad relevance for every step of the sales funnel and optimizing ad dollar allocation between lead-gen and granular retargeting campaigns. When data meets automation, Funnely delivers simplicity and optimization. For more information, please visit http://funne.ly.