Polish martech startup Edrone raises €4.5 million
Polish company Edrone has raised 5.3 million dollars (4.5 million euros) in its first funding after bootstrapping for the last four years. Edrone is an AI-fueled platform that provides customer experience solutions for ecommerce companies.
With the fresh capital, Edrone wants to fuel its ambitions to build a marketing one-stop-shop for ecommerce. Part of the money, 2.1 million euros, comes from Hungarian venture capitalist PortfoLion in a Series A round. The other 2.4 million euros comes from a research & development grant, meant for Edrone’s autonomous virtual assistant.
Better understanding customer’s behavior
The marketing tech startup from Poland aims at medium and large ecommerce businesses that want to better understand their customer’s behavior. It offers features such as marketing automation, on-site marketing, AI-driven product recommendation, customer care solutions, and a dedicated CRM for ecommerce.
Generating more revenue from existing customers
CEO Michal Blak says Edrone was created with the idea to help online stores generating more revenue from their existing customer base. “The idea was well-received from the very beginning, allowing us to bootstrapping into over 1,000 customers worldwide. Now it’s time for the next episode and I’m excited to welcome PortfoLion as part of our team”, he comments.
Edrone has over 1,000 customers worldwide.
Tibor Győrbíró, Partner at PortfoLion, says the Polish company has proved to deliver a steadily 2-3x yearly growth since the first day. “We believe that their energy and bravery, mixed with our network, business expertise, and financial aid, will only accelerate these numbers and help the company to become a marketing tech leader coming from Central and Eastern Europe.”
Edrone says it will spend the money within the next eighteen months on customer development in existing markets, such as Latin America, as well as for opening new ones in Europe, especially in Central and Eastern Europe. The company will also hire over 100 people in the next twelve months, most of them will be working on the product and business development.