Lithuanian AI-powered marketing analytics platform RedTrack raises €2.9M

Vilnius-based marketing analytics platform RedTrack has raised €2.9M in series A from lead investor Hungarian LeadVentures with participation from Lithuanian IronWolf Capital, Californian software developer InstaVC and angel investor from Budapest Balazs Gandera.

Founded in 2017 by Vlad Zhovtenko, Vladimir Vasilevsky, and Artyom Shpakov, RedTrack.io has developed an analytics platform that helps media buyers track, attribute, and automate marketing campaigns across multiple channels, including Facebook, TikTok, Instagram, Google, YouTube, Bing, and Snapchat. In addition, media companies can use the startup's solution to better understand the mechanisms that drive user acquisition and retention. The company uses artificial intelligence technology to help analyze user behavior and preferences. The technology allows you to study large data sets and identify trends and patterns that will drive future advertising efforts.

The company will use the investment to strengthen its development team, accelerate the development of AI products, and continue to expand into the US market.

Founded in Vilnius in 2018, Iron Wolf Capital is an early-stage VC that invests in AI, IoT, SaaS, Deeptech, Fintech startups, and marketplaces. The initial ticket ranges from €250K to €2M. The managing partners are Kasparas Jurgelionis and Zygimantas Susnys.