Ukrainian adtech startup Influ2 secures $3.4 million

Influ2, a startup that develops an advertising targeting platform, has closed $3.4 million in a seed round.

The investment

One Way Ventures, VentureFriends, as well as a venture capitalist from Kazakhstan, Murat Abdrakhmanov, and Peter Harrison, former CEO of GlobalLogic, participated in the round.

The company plans to spend the raised money on marketing, product development, as well as on team expansion in the U.S. and Ukraine.

Influ2

Influ2 is a project of Ukrainian entrepreneur Dmitri Lisitski, which he launched in summer 2017. In December of the same year, the startup raised $190,000 in angel investments. The idea of the service is to target advertising to specific people, taking into account the frequency and quality of their interaction with it.

According to the company, its revenue has increased fivefold since 2019, and in the first half of 2020 the product grew by 251%, despite the impact of the coronavirus.

The pandemic has also affected the process of searching and raising funds. According to Lisitski, the quarantine has delayed the work on the deal for three months.