Addressable, a decentralized marketing startup, has raised $7.5 million in its seed round to address current marketing issues in the area of Web3. The company claims that its software can link users’ on-chain addresses to their social accounts, giving Web3 marketers more insight into their audiences to run efficient ad campaigns in the cryptocurrency sector.
Addressable raises $7.5 million in seed round
Marketing agencies have found it difficult to advertise Web3 products to their audiences due to the lack of information they have about these services. Addressable, a software startup, has raised $7.5 million in its seed round, claiming it might have a solution to this problem. The round, which was supported by Viola Ventures, Fabric Ventures, Mensch Capital Partners and North Island Ventures, builds on the capabilities of Addressable’s software.
The company claims that it can match users’ on-chain addresses with their social media profiles, making it possible for marketers to gain key insights into their potential target audience. This data can help them design specialized campaigns to attract a certain type of Web3 audience and then target them to their social profiles on platforms like Twitter.
Addressable’s software has to choose each user in a survey of more than 500 million Web3 addresses from various chains, and cross-reference them with the entire universe of existing social media accounts on different platforms today. For now, the company supports Ethereum, Polygon, Binance Smart Chain, Fuse, Arbitrum and other EVMs for guidance purposes. For tracking, only audiences on the Ethereum blockchain are monitored, with support for Polygon and Binance Smart Chain in the future.
Competitors and Vision
Addressable’s business model is not unique, as there are other companies that are also trying to solve the problem of Web3 marketing. Tomer Sharoni, Co-Founder and CEO of Addressable, said Techcrunch on the competition the company is facing and how they are trying to differentiate themselves from these other startups. He stated:
Addressable.io competes with other Web3 CRM startups such as Blaze, Cookie3, Kazm, and Absolute Labs who are primarily focused on customer reactivation by analyzing and engaging with the company’s existing on-chain user base.
However, Sharoni claims that Addressable had a more holistic approach, since its goal is to unblock all users on the Web3 chain. In addition, the company claims that they protect the privacy of targeted users, since their clients cannot address users as individual data points and no information is saved on their servers.
What do you think about the claims and business model of Addressable? Tell us in the comment section below.
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