Cape Town-based online advertising tech startup Adbot, that provides online advertising solutions for African small and medium sized businesses (SMEs) has secured $500,000 funding from Enygma Ventures to expand into new markets and help expand its user base, according to media reports.
Launched in 2019, the company empowers SMEs with simple and supportive tools for successfully expanding their business, along with providing access to new markets and freedom to grow. The company uses machine learning and automation, while creating google ads accounts and helping clients set up advertisements, all under ten minutes.
Michelle Geere, CEO of Adbot told the media, “Adbot has a really solid product and tech stack so, with this funding, we will focus on growing our user base. We will be reaching out to every small business owner in South Africa as a start, from the braai shack in Gugulethu, to the unique investment company in Sandton. If you have a business, you need Google Ads in order to be found and Adbot is the most cost-effective and efficient way to do this.”
“Having worked with SMEs on the continent for over a decade, we are keenly aware of their challenges, with market access being chief among them. Adbot’s potential in solving this issue for small business owners in Africa is immense and exciting.”
Enygma Ventures, which provided the latest funding, was launched in 2019 and targets female entrepreneurs and women founders that are focused on Southern and Eastern Africa. It is a female-focused funding company which has decades of experience in the market in growing and scaling of businesses.