FRII invests 15 million rubles in service for attracting users from Facebook and Instagram

FRII
FRII

The Foundation for Internet Development Initiatives (FRII) agreed to invest 15 million rubles in Leadza startup that developed the service for optimization of advertising campaigns budgets in Facebook and Instagram.

Following the transaction, the FRÍI’s share in Leadza will reach 25%. In February 2016 the startup was selected in the eighth accelerator fund, which received 2.1 million rubles of investment in exchange for 7% in the project. Leadza plans to invest the money in research and development and the development in foreign markets. In February 2017 the company plans to launch the testing service in the United States, India and Turkey.

Using machine learning technology Leadza Optimizer service analyzes the results of past advertising campaigns, builds forecast based on key metrics and automatically allocates advertising budget.

Now the service is used in five Russian Internet-stores, several large advertising agencies, a leading developer of mobile applications and a foreign dating project. Among project’s clients its website mentions children’s online store “Babadu” as well as service for grocery home delivery called SeasonMarket and clothing manufacturer called BStatement.

FRII estimates the Russian market of advertising in social media to be at about 10 billion rubles per year, of which 2 billion is for the services to improve the effectiveness of advertising. “The potential market for the service is 20% of that amount — and that does not include plans for international development,” said FRII Investment Manager Nikita Yuriev.

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