Unified retail media platform Zitcha is coming to the U.S.
The corporate introduced a $10 million Sequence A funding spherical, led by funding agency VMG Companions, to ramp up operations in North America.
Zitcha is predicated in Windsor, Australia, and Australian enterprise capital outfit OIF Ventures, which raised the corporate’s seed funding spherical in 2022, can also be an investor within the Sequence A spherical. Zitcha stated the funding marks enterprise arm VMG Expertise’s first foray into Australia.
The funds are earmarked for opening new places of work within the U.S., hiring gross sales and buyer success groups, and offering manufacturers and retailers with data-driven promoting options.
“Our platform is uniquely positioned to assist retailers and types absolutely leverage the third wave of digital promoting, and as U.S. retail media networks mature, the demand for built-in, data-driven advert options has by no means been larger,” Zitcha co-founder and CEO Troy Townsend—who will relocate to the U.S. to spearhead the corporate’s North American growth—stated in a press release.
Boston Consulting Group projected that U.S. retail media revenues will develop to between $110 billion and $120 billion by 2027.
Zitcha works with international manufacturers together with Fisher & Paykel, Lego, Microsoft, Sennheiser, and Unilever, and its platform is utilized by retailers throughout seven nations, akin to Coles Group in Australia, Leroy Merlin in South Africa, Peavey Mart in Canada, and The Warehouse Group in New Zealand.
The corporate additionally famous latest connections with Axonet to leverage first-party comfort retailer information and retail media touchpoints throughout 1000’s of comfort shops in North America, in addition to with U.Okay. grocery expertise supplier Ocado, which grew to become the most recent retailer to affix its platform.
