Romanian based ProductLead, a digital platform for marketing content creation, has raised €600K in a fresh round of funding. The round was led by Sparking Capital, in partnership with Bulgarian-based Eleven Ventures and Founders Bridge (Sweden) investment funds.
Speaking on the development, Vlad Panait, Managing Partner at Sparking Capital, said, “This is the second round of investment we carried out for ProductLead and we are very glad that Eleven Ventures and Founders Bridge investment funds joined forces with us to contribute to the European expansion of ProductLead.
He also added, “Our strategy is to support and help innovative start-ups and products to scale at international level. Besides the financial investment, we contribute with expertise, mentoring, and networking to accelerate the development of the companies in which we invest.”
Sell more online
Founded in 2017 and currently led by CEO Mihai Bocai, ProductLead helps businesses gather content and activate influencers, to help them sell more through social media. By using social galleries and influencer campaigns, the startup helps e-commerce sites boost their sales and engagement.
ProductLead’s mission is to become the leading social media marketing content creation platform by democratising access to content creation through social data analytics, automation, and integrations.
Hristo Hristov, Venture Partner at Eleven Ventures says, “Digital advertising has exploded over the last ten years and has grown to an extent where bots are bidding against other bots to capture the relevant audience. However, something that has not changed and is still done in the majority by humans are the creatives one has to put in the advertising platforms.”
ProductLead claims that its technology can help marketers develop efficient creatives, 10 times faster and at 1/10 of the cost by providing a creative automation engine that leverages e-commerce assets, influencer generated content, and brand assets at scale. The company is already in partnership with Facebook, TikTok, and VTEX.
The platform has 4 modules:
- Visual Commerce – help commerces increase conversion rates using social content through shoppable picture
- Analytics – gather in-depth intelligence about your/competitor/influencer social media channel
- Creative Generator – automate creatives assets for your marketing campaigns
- Omnichannel – create activations in offline using online content
Use of the funds
The raised capital will enable ProductLead to grow its team and enter foreign markets, especially CEE, DACH, and Nordics. In addition, the company looks to strengthen its partnerships with major players in ecommerce, marketplace, and tech marketing tools.
Mihai Bocai, CEO at ProductLead, says, “We are very excited by the success of this round of investment, which will allow us to speed up our growth. We put a lot of passion and effort to ensure high quality services to our clients, helping them scale their digital content quickly, ensuring high-volume, high-quality creative production with the use of technology and automation.”
He further added, “Our business objectives focus on growth and partnerships, on-boarding customers across key industries and geographies, giving us the grip we need to strengthen our value proposition for Series A.”