Silicon Canals
TRENDING
  • Mobility
  • AI
  • FinTech
  • Software & SaaS
No Result
View All Result
  • Home
  • News
    • Ukraine
    • Startups
    • Scaleups
    • Coin Canals
    • FinTech
    • AI and chatbots
    • Travel & Mobility
    • Software & SaaS
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
    • COVID-19
  • Features
    • How-to
    • Knowledge & Insights
    • Guest Contributions
  • Partners
    • Amsterdam
    • Rise by Techleap.nl
    • Fintech Files by AWS
    • Scaling-up in Europe
    • Blue Tulip Awards
    • Partner with us
    • Promoted content
  • Jobs
  • About us
    • Partner with us
    • About
    • Team
    • Newsletter
  • Contact
  • Home
  • News
    • Ukraine
    • Startups
    • Scaleups
    • Coin Canals
    • FinTech
    • AI and chatbots
    • Travel & Mobility
    • Software & SaaS
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
    • COVID-19
  • Features
    • How-to
    • Knowledge & Insights
    • Guest Contributions
  • Partners
    • Amsterdam
    • Rise by Techleap.nl
    • Fintech Files by AWS
    • Scaling-up in Europe
    • Blue Tulip Awards
    • Partner with us
    • Promoted content
  • Jobs
  • About us
    • Partner with us
    • About
    • Team
    • Newsletter
  • Contact
No Result
View All Result
Silicon Canals
No Result
View All Result

UK-based Bidnamic secures €4.7M to help businesses drive revenue and profits from Google Shopping adverts

Vishal Singh by Vishal Singh
May 27, 2022
in (Crowd)funding, News
Bidnamic

Bidnamic team | Image credit: Bidnamic

25
SHARES
LinkedInTwitterWhatsAppFacebook

Leeds, UK-based Bidnamic, a machine learning platform that helps retailers unlock the full potential of Google Shopping, announced on Wednesday that it has raised £4M (approximately €4.70M) in its Series A round of funding.

The round was led by UK’s growth equity investor Gresham House Ventures. 

- Partner content -
EIT Digital
EIT Digital Challenge 2022 is here!
Calling all European deep-tech scaleups for EIT Digital Challenge 2022Show More
Calling all European deep-tech scaleups for EIT Digital Challenge 2022 Show Less
Read more

Investors supporting this round

Gresham House Ventures invests in software and digitally-driven businesses in the consumer, healthcare and service sectors.

Henry Alty, Investment Director at Gresham House Ventures, says, “Bidnamic initially appeared on our radar after we saw first-hand the breakout growth the tech provided to retailers in our network. The company’s professional team, well-honed sales and marketing approach, capital-efficient approach to growth, and the product’s proven ROI which helps deal with rising acquisition costs for online retailers all mean it is extremely well-positioned to accelerate its already stellar growth.”

The round also saw participation from existing angel investors, including some of the biggest names in ecommerce and technology such as Marin Mayer, co-founder of Booking.com; Chris Forrest, board advisor to Net-A-Porter; and Luke Judge, former CEO of performance marketing agency Incubeta.

Maximise revenue and profitability from Google Shopping

Bidnamic was born in 2018 when its co-founders Liam Patterson and Dr Ingvar Kraatz were running Dzinga, a print-on-demand ecommerce marketplace. The store had grown to over 40 million differentiated products (SKUs) and was unmanageable for them to run as manual campaigns on the Google Shopping ad platform. So they built a machine learning engine to automate it for them, and Bidnamic was founded.

Bidnamic combines advanced machine learning (ML) with human expertise to drive revenue and profits from Google Shopping adverts. The company says it works with ecommerce companies to maximise the potential of every product even if  they have hundreds or hundreds of thousands of SKUs, which is beyond what humans can manage manually.

Using advanced ML algorithms, the company’s platform predicts the right price to pay for each Google Shopping click, 24/7. This helps businesses to drive profitable revenues from search marketing. Bidnamic launched its services in the US in 2021 and currently serves a customer base of iconic brands such as Volcom and Herschel Supply Co, as well as fashion marketplace Garmentory.

Capital utilisation

Bidnamic says that the proceeds from this round will help accelerate the already rapid growth the company has achieved by fuelling R&D projects. The company will also further invest in expansion into the US market.

Co-founder and CEO, Liam Patterson, says, “Gresham House Ventures are a natural partner as the team bring a wealth of experience scaling B2B SaaS, specifically ecommerce integration platform Patchworks, shipping optimisation software provider Scurri, and online deals personalisation platform RevLifter.”

“Further alignment comes as the Gresham House Ventures team also have experience with ecommerce investments including fashion marketplace SilkFred, used photographic equipment marketplace MPB and Crew Clothing. This means the team intuitively understands the pressures retailers face,” adds Patterson.

 - Partner content -
How cybersecurity scaleup Intigriti conquered the world?
How cybersecurity scaleup Intigriti conquered the world?
Catch our interview with Paul Down, Head of Sales at Intigriti.
Catch our interview with Paul Down, Head of Sales at Intigriti. Show Less
Read more
Tags: e-commercefundingLondon startupsnews
Share2Tweet6SendShare10

Partner content | Work with us

Tokenisation is the future of the financial services industry, and Luxembourg’s Tokeny is at the helm of this change

Copilot for growers: Source.ag’s Rien Kamman explains how it helps growers increase their fresh produce with AI

Waste problem is complex, but Seenons has a solution: CEO and co-founder Joost Kamermans explains the plan

Want to scale your business in Germany and Europe? Here’s how the Scaleup Landing Pad Hamburg can help

Is your deep tech scaleup aiming high? The EIT Digital Challenge 2022 can get you there

Silicon Canals | Jobs


Breaking news from Amsterdam | Partner

Founder in Residence: Slimmer AI’s Daniela Redondo Vélez on how it aims to help founders early in their dream to build new age B2B AI solutions

Amsterdam and Paris-based Trezy bags €1M, opens European headquarters in the Dutch capital

Amsterdam’s Just Eat Takeaway made progress towards profitability in H1 2022: Report

9 Amsterdam-based startups that are cooling the planet

Advertisement

  • About Silicon Canals
  • Partner with Silicon Canals
  • Contact us
  • Newsletter
  • Disclaimer
  • Privacy Policy
  • Cookie Policy (UK)
  • Cookie Policy (EU)
  • Terms & Conditions Silicon Canals

Silicon Canals 2014-2022 | Website: Bright Idiots

No Result
View All Result
  • Home
  • News
    • Ukraine
    • Startups
    • Scaleups
    • Coin Canals
    • FinTech
    • AI and chatbots
    • Travel & Mobility
    • Software & SaaS
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
    • COVID-19
  • Features
    • How-to
    • Knowledge & Insights
    • Guest Contributions
  • Partners
    • Amsterdam
    • Rise by Techleap.nl
    • Fintech Files by AWS
    • Scaling-up in Europe
    • Blue Tulip Awards
    • Partner with us
    • Promoted content
  • Jobs
  • About us
    • Partner with us
    • About
    • Team
    • Newsletter
  • Contact

Silicon Canals 2014-2022 | Website: Bright Idiots

Stay updated with the Silicon Canals daily and weekly newsletters.
We promise we won't spam you. You can choose to unsubscribe anytime.
Stay updated with the Silicon Canals daily and weekly newsletters.
We promise we won't spam you. You can choose to unsubscribe anytime.
Silicon Canals
Manage your privacy

To provide the best experiences, we and our partners use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us and our partners to process personal data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.

Click below to consent to the above or make granular choices. Your choices will be applied to this site only. You can change your settings at any time, including withdrawing your consent, by using the toggles on the Cookie Policy, or by clicking on the manage consent button at the bottom of the screen.

Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Statistics

Marketing

Features
Always active

Always active
Manage options Manage services Manage vendors Read more about these purposes
Manage options
{title} {title} {title}
X
X