Latvian ad tech startup Monetizr raised $4M
Change Ventures was a lead in the deal. US venture capital firm Techstars, Turkish
Ludus Ventures, New York-based angel investor Ari Paparo, and Budapest-based investor and adviser Jared Schrieber also participated in the round.
Founded in Riga in 2016 by Andris Merkulovs and Martins Bratuskins, Monetizr integrates brand stories into the games. It allows brand managers to buy ads across its data-driven consumer engagement platform while helping publishers to receive revenue from publishing the ads in their games. Monetizr offers brands to publish videos, mini-games, surveys, rewards, and others. The brands can gather consumer email addresses and product feedback. According to the startup, advertisement based on branded storytelling increases attention engagement ten times more, compared to traditional digital ad units.
Monetizr works with major CPG (consumer packaged goods) brands like Procter & Gamble and game developers like Voodoo. Monetizr will use the investments to increase its US sales team and build out its European development hubs in London, Riga, and Helsinki. The company's headquarter is in Atlanta (US).
Change Ventures is an Estonian pre-seed/seed stage venture capital fund, that backs startups founded by Baltic entrepreneurs. It has invested in over 30 startups. The fund was established by entrepreneurs Andris K. Berzins, Rait Ojasaar, and Yrjö Ojasaar in Tallinn in 2017. In May, it launched a €20M Fund III to double down on pre-seed investing in startups founded by Baltic entrepreneurs. The initial ticket size of the fund is between €100K to €500K.
