Latvian advertising platform Roibox raises €2M

Roibox, a Riga-based advertising platform, has raised a €2 million investment from BlackSheep Ventures. The startup improves ad campaigns based on geography performance data, Labs of Latvia reports.

• Founded in 2020 by Edvarts Gaigals and Jekabs Endzins, Roibox is a SaaS platform aiming to improve ad campaign performance by connecting top advertising platforms with geospatial data analytics.
• The platform creates the Grid, a unique multi-layer map applied to campaign management platforms like Meta and Google Ads. It helps identify missed opportunities, budget waste, useless bids and provides optimization tricks.
• BlackSheep Ventures is the lead investor in this round. It is the European venture capital firm specializing in MadTech: marketing and advertising technology powered by AI, Big Data, as well as Automation. So far, the fund has had four successful exits in the field.

“We were amazed by the platform’s performance on the ad accounts we tested it. Roibox is directly plugged into the ad accounts, and this is a real key competitive advantage. We’re backing an experienced and consolidated team to further develop the product and its go-to-market,”

Sandro Moretti from BlackSheep Ventures on the investment.

• The funding will help Roibox to improve its technology to make ad campaigns more effective, as well as expand its presence in the market.