Choozle, the Denver, Colorado-based real-time programmatic advertising platform, announced itself as the fastest growing self-service digital marketing and advertising company. In one year, its revenue has tripled, contributed largely by continued innovation in its core product offering. Choozle also landed additional A-1 funding of $2.4 million from its investors in 2017. It adds to the $4.6 million Choozle raised in 2015, led by Great Oaks Venture Capital and other existing investors.
Choozle has raised $8.6 million so far, and has 30 employees.
Choozle offers adtech software to power real-time advertising campaigns across display, mobile, and social channels. Backed by the latest funding, the adtech SaaS platform will expand its operations in the US, and grow internationally. Choozle’s 4th quarter profit in 2016 has proved that the company is on a hyper-growth track despite the tough market conditions in the US. Its customer reach grew by 175 percent.
Programmatic advertising industry is currently worth $40 billion. Choozle aims to grow its product innovation and expand in the US and abroad to repeat its success in 2017. The adtech start-up offers SaaS served on ad networks of theTradeDesk, AOL, Rubicon, MOAT, Bluekai, Google Display Network, Yahoo, MoPub, OpenX, DoubleClick, AppNexus, Sizmek and Facebook. It has 300+ clients all over the world, including Digital First Media, Paradise Agency, Watauga, and Ibotta.
A study on programmatic advertising reports that only 18 percent marketers in Canada, the United States and the United Kingdom have been using the technology for more than 2 years. Programmatic ad spending in the US is expected to grow 17.6 billion in 2018. While the ad spending in programmatic advertising continues to grow rapidly, venture investment in the sector has saturated to a large extent.
In 2016, investments in programmatic ad industry fell by 33 percent. For most adtech companies, it was a struggle to keep pace with the competition and achieve profitability, apart from securing investments. Choozle managed to adapt itself and grow its clientele span beyond 1,000 advertisers.
Andrew Fischer, cofounder and CEO of Choozle, emphasized on company’s focus on continuing his company’s heritage of developing intuitive self-service design in 2017. Choozle ranked #1 in the Customer Satisfaction in G2Crowd’s Winter 2016 Digital Advertising report.