Mountain View, Dec. 16, 2013 — AdEspresso, a MountainView-based tech startup that provide a SaaS solution to easily manage & optimize Facebook Advertising for SMBs, announced today the closing of its first external funding round. The company has raised $500,000 from well known angel and institutional investors to fuel the product development and growth across the United States and Europe.
With AdEspressso, SMBs can easily promote their products on Facebook saving a huge amount of time and achieving an optimization on their ROI that can go up to 40%. As small and medium companies start realizing the potential of Facebook Advertising, they also start understanding that in order to achieve a great return from it, they also need to test multiple ad’s creatives and target audiences. With AdEspresso, any user, in less than five minutes can create and test hundreds of ads. A simple and actionable Analytics then tell the user how his campaigns are doing and what to do to optimize them like: “Men aged between 18 and 24 are 40% more expensive to acquire than the average campaign’s cost. Stop displaying them ads now!”.
Key features of AdEspresso include:
- Quick & Easy campaign creation that allows to split test any element, from the ad’s creative to demographic audiences (i.e. Age, Gender, Interests, countries, etc.)
- An extremely simple Analytics interface highlighting only the key data that a SMBs really need (bye bye excel with hundreds of columns of data!)
- Actionable tips to immediately optimize campaigns and improve ROI
“We were all working in one of the leading Web Agency in Italy and we saw how much human time we were wasting in order to optimize our Facebook campaigns. The market was full of complex and expensive enterprise solution but no one had done something to help smaller spenders like us. We saw the opportunity and immediately started working on AdEspresso”, said Massimo Chieruzzi, founder and CEO.
“We’ll never aim to be the most sophisticated, feature-rich product. We want to provide small advertisers with the most simple, yet powerful, solution to easily understand what they’re getting from their Facebook advertising and how to improve it.”
AdEspresso is part of the current 500 Startups batch and since opening the public beta 6 months ago has seen a great traction with a month over month growth up to 83%. More than 4.000 users signed up to use the product and by the end of year $1M of Facebook ads will have been created and managed through the platform.
Startups, Online Retailer, Mobile Developers and Small/Medium sized media agencies are AdEspresso’s core markets but big enterprises like Pirelli, Heinz and Lenovo use it as well.
The $500.000 advisory round was closed in just three weeks with the total amount extended from the original goal of $300.000 due to the high request. Investors includes 500 Startups, Atlantic Capital Partners, mentors of 500 Startups like Dave Johnson and a number of very active Angel investors in Us and Europe like Richard Chen, Paola Bonomo, Robb Kunz and others. A couple of AdEspresso customers also decided to invest in the current round which is pretty impressive.
“We’re extremely happy of how smoothly things went with the current round”, commented Massimo Chieruzzi, “not only we managed to quickly close the round but we also gathered a great team of investors with strong knowledge of the SaaS market that are already actively helping us further grow the company”.
The funding will be used to scale development of the product which will soon allow automatic algorithmical optimization and preset targeting clusters.
Funding will also be used to fuel growth with a more aggressive marketing spending. To date 95% of the users have been generated through content marketing. This channel will be further expanded as well as the paid acquisition ones.
AdEspresso provides Small and medium businesses the ideal solution to easily create, test and optimize their Facebook Ads campaigns. Any business’ owner spending as low as $1,000 can achieve impressive results both in term of time saved and performances improved. While there are other self-service solutions out there, AdEspresso is the only one putting together an amazing user-friendly interface with the most complete features’ set available, on top of the best knowledge of the market shared every week through the AdEspresso’s blog. AdEspresso is backed by great angel investors with background and expertise in the space as well as institutional investors from Europe and US. AdEspresso is proudly part of 500 Startups Batch 7.
The AdEspresso logo, screenshots and other images are available at https://www.dropbox.com/sh/qxwuvqq1df4cmzn/M40_D1YpHi