AdTech Firm Secures Seed Round for Advertising Platform
A Zionsville-based AdTech startup has secured a $1 million seed round of funding for its tech-enabled advertising platform. Adverank LLC has developed software to maximize pay per click (PPC) advertising in the self-storage industry based on daily occupancy results and targets.
Funding was received from AVAD Capital, a Dallas-based commercial real estate investment firm with founding roots in the self-storage industry. Adverank executives say the funding will be utilized to further refine the platform in preparation for a later Series A round.
Adverank’s software analyzes operators’ PPC spending across multiple locations within a portfolio and makes daily PPC recommendations via its mobile-enabled dashboard to impact occupancy by individual location, geographic region, or portfolio wide. Customers also have access to social media advertising services provided by Adverank.
“Adverank was born from internal software developed to serve our customers in the self-storage industry,” CEO Jason Zickler stated. “Our goal was to help our customers increase occupancy by customizing their PPC spending daily, if necessary. By utilizing point of sale data, we collect nearly real-time information, and our software provides recommendations based on PPC results. We have successfully increased occupancy and value for our clients, while reducing wasteful PPC spending.”
While using Adverank services, AVAD Capital founders were able to triple the size of their portfolio of storage properties to over 110 locations and optimize operational performance before successfully divesting most of the portfolio to a publicly traded self-storage REIT.
Adverank has already served over 60 million ads on behalf of more than 125 facilities, approaching 10 million rentable square feet and more than 50,000 units.
Adverank executives expect to launch a Series A round within 12 months to fund expansion of the platform to other commercial real estate properties.