Addressable, a decentralized marketing startup, has raised $7.5 million in its seed round to tackle the current marketing woes in the Web3 area. The company claims its software can pair the onchain addresses of users with their social accounts, giving Web3 marketers more knowledge about their audiences to make efficient advertising campaigns in the crypto sector.
Addressable Raises $7.5 Million in Seed Round
Marketing agencies have had a difficult time advertising Web3 products to their audiences due to the lack of insight they have into these services. Addressable, a software startup, has raised $7.5 million in its seed round on the claims that it might have the solution to this problem. The round, which had the support of Viola Ventures, Fabric Ventures, Mensch Capital Partners, and North Island Ventures, banks on the capabilities of Addressable’s software.
The company claims that it can pair the onchain addresses of users with their social media profiles, making marketers capable of getting key data on their potential target audiences. This data can help them to design specialized campaigns to entice a certain kind of Web3 audience, and then point these to their social profiles on platforms like Twitter.
Addressable’s software has to choose each user in a poll of more than 500 million Web3 addresses from several chains, and cross-reference them with the whole universe of social network accounts existing on different platforms today. For now, the company supports Ethereum, Polygon, Binance Smart Chain, Fuse, Arbitrum, and other EVMs for targeting purposes, For tracking, only audiences on the Ethereum blockchain are monitored, with support for Polygon and Binance Smart Chain coming in the future.
Competitors and Vision
Addressable’s business model is not unique, as there are already other companies that are also trying to solve the Web3 marketing problem. Tomer Sharoni, co-founder and CEO of Addressable, told Techcrunch about the competition that the company faces, and how they are trying to differentiate from these other startups. He stated:
Addressable.io competes with other Web3 CRM startups including such as Blaze, Cookie3, Kazm and Absolute Labs, that focus mainly on customer reactivation by analyzing and engaging with the company’s existing onchain user base.
However, Sharoni states that Addressable had a more holistic approach, as they aim to unlock all Web3 onchain users. Also, the company states that they protect the privacy of the users targeted, as their customers cannot target users as individual data points, and no info is saved on their servers.
What do you think about Addressable’s claims and business model? Tell us in the comments section below.