The Queensland Funding Company (QIC) has backed digital promoting startup Cartelux in a $3 million elevate the Sunshine Coast-based software program agency has dubbed “post-Seed”.
Steve Baxter’s syndicated funding platform TEN13 additionally invested, with managing associate Stew Glynn becoming a member of the board.
Cartelux automates digital promoting for international manufacturers by way of their retail networks and franchisees on a centralised advertising and marketing platform. The software program that enables advertisers to focus on and optimise their advert campaigns. Automotive manufacturers together with Ford, BMW, Nissan, Toyota, Renault, Honda, and Mini are utilizing the Cartelux product to their advertising and marketing.
The capital shall be used to develop its software program options for the promoting trade, in addition to enlargement into further classes.
Cartelux was based in 2020 by CEO Joshua Williams, who mentioned Cartelux provides even the smallest media spenders entry to skilled digital advertising and marketing campaigns
“We’re excited to group up with TEN13, QIC and extra traders like Tractor Ventures to type a number one international SaaS enterprise based in Australia. This group additionally provides us an skilled {and professional} place to begin for future funding rounds,” he mentioned.
“Their experience and assist shall be invaluable as we proceed to increase our platform and attain new markets.”
The adtech startup just lately moved into the Americas and African markets and can increase into further classes within the second a part of the 12 months. The Cartelux software program permits automating and regionally tailoring the advert creation, approval, and media shopping for processes throughout native, nationwide, and worldwide retail networks.
Queensland treasurer Cameron Dick, who’s additionally and the commerce and funding minister, mentioned the federal government’s funding will assist the enlargement of Cartelux’s gross sales, engineering and product groups.
“Serving to corporations like Cartelux take the subsequent step in rising their enterprise is strictly why our Authorities established the Enterprise Acceleration Fund. Taking a easy resolution to a worldwide scale is an enormous step, however Cartelux have demonstrated the Queensland ingenuity that deserves our backing, via the Queensland Funding Company,” he mentioned
TEN13’s Stew Glynn mentioned: “Cartelux is driving outstanding outcomes for manufacturers, cementing their place as a number one platform for centralised digital advertising and marketing throughout giant networks. We additionally see great progress alternatives past the Automotive Trade.”