RedTrack, a Lithuanian-based startup specializing in AI-driven ad tracking and automation for media buyers, has successfully raised $3.2 million in Series A funding. The round was led by Lead Ventures, with contributions from InstaVC, Iron Wolf Capital, and angel investor Balazs Gandera. This funding will fuel the expansion of RedTrack’s product team and accelerate the development of its AI capabilities as the company aims to strengthen its foothold in the U.S. market.
Solving a Critical Problem in Ad Tracking
The fragmented nature of the digital ad tracking ecosystem has long been a challenge, particularly for small and mid-sized enterprises (SMEs). According to the IAB/PwC Internet Advertising Revenue Report, internet ad revenues hit a record $225 billion in 2023, with social media ads accounting for $64.9 billion of that figure. However, advanced tracking tools tend to be costly, leaving SMEs reliant on platform-specific tracking solutions that don’t offer a complete picture.
RedTrack addresses this gap by offering an affordable, yet sophisticated, platform that provides SMEs with the same level of analytics and automation available to large corporations. Balázs Haszonics, CEO of Lead Ventures, noted RedTrack’s ability to cater to e-commerce and direct-to-consumer (DTC) businesses, stating, “RedTrack built an efficient and transparent solution that works for businesses of all sizes, making digital marketing more accessible for under-served SMEs.”
How RedTrack Stands Out
Founded in 2017 by Vladyslav Zhovtenko in Vilnius, Lithuania, RedTrack’s platform empowers media buyers, particularly in the DTC and e-commerce space, by offering them tools to monitor ad performance, gather actionable insights, and automate repetitive tasks. One of its key features is the ability to track the entire customer journey from awareness to acquisition, enabling businesses to optimize ad performance without juggling multiple tracking systems.
RedTrack’s AI-powered analytics platform offers seamless integration with popular advertising and e-commerce platforms such as Facebook, TikTok, Google, WooCommerce, and Shopify. This integration allows media buyers to easily track which channels are most effective, going beyond surface-level metrics to focus on what drives real customer acquisition and retention.
The platform’s user-friendly interface brings all these insights into one place, enabling businesses to fine-tune their campaigns with minimal effort. By automating ad performance analysis and providing AI-driven recommendations, RedTrack allows media buyers to focus on higher-level strategic decisions, while reducing the likelihood of human error in day-to-day tasks.
Plug-and-Play Efficiency for SMEs
RedTrack’s platform is designed with simplicity in mind, making it a plug-and-play solution for businesses looking to scale. Its subscription-based model is particularly attractive to SMEs, as it eliminates the need for companies to pay a percentage of ad spend—providing a more predictable and cost-effective solution for businesses of all sizes.
The platform currently supports over 800 businesses across 100+ countries, managing more than 60,000 ad accounts and generating over $2 billion in revenue for its clients. By offering a fixed-fee model, RedTrack has made sophisticated ad tracking and automation accessible to mid-market and SMB companies, leveling the playing field in a highly competitive digital landscape.
Looking Ahead: Multi-Touch Attribution
With the fresh funding, CEO Vladyslav Zhovtenko plans to further enhance RedTrack’s capabilities, with a specific focus on building a multi-touch attribution model. “We’ve always aimed to give businesses a full view of their advertising funnel,” said Zhovtenko. “The goal is to offer not just one touchpoint but a comprehensive view of every interaction a customer has with a brand. This funding allows us to refine that holistic approach and help digital marketers across industries gain better insights into their customer journeys.”
By prioritizing transparency, ease of use, and affordability, RedTrack has positioned itself as a crucial tool for businesses looking to optimize their ad performance in an increasingly complex digital ecosystem. With new funding in hand, the company is set to enhance its AI-driven platform and provide even more value to marketers worldwide.