iTech Capital invested in SeoPultJuly 31, 2012 Russian SEO and internet advertising automation platform SeoPult raised US$10 million from iTech Capital
SeoPult, the largest automated SEO and e-advertising platform in Russian Internet has raised US$10 million funding in a round led by iTech Capital. The company is planning to expand its services to Asian and European markets.
The largest SEO and e-advertising automation platform in Russia SeoPult has announced it raised US$10 million in an investment round led by iTech Capital Russia-based private equity and VC fund in exchange for a minority equity stake. This is the first investment round since the company has been founded in 2008.
The service enables business users, even without Internet marketing specific knowledge and skills, to build up effective e-marketing channels, attracting consumers to their websites via SEO, paid search and context advertising campaigns automated management. More than 200,000 small and medium sized business’ websites are using the service in Russia, CIS and Poland. The company is getting ready to enter South-East Asia and further expand its services in Europe.
“The amount of Internet marketing tools is growing rapidly, therefore it’s getting harder for businesses to manage their campaigns and balance their budgets effectively”, SeoPult co-founder Igor Artemenko says. “Our strategy is in offering the market a platform which is able to manage various search engine marketing and social network marketing tools in one interface and provides reliable analytics to drive cost efficiency. We consider the current investment round is a great opportunity to support the company’s rapid growth globally”.
SEO and paid search advertising markets in Russia are steadily growing by 20-30 percent annually, and are expected to reach US$1.5 billion size in 2012, according to J.P. Morgan and market experts’ studies. “SeoPult is one of the solid leaders. The company grows faster than the market, doubling its revenue every year”, says iTech Capital Investment Manager Nikolay Davydov. “The company boasts impressive financials – it’s profitable, pays quarterly dividends and has always been self-sufficient in terms of fueling the growth, improving existing services and launching new ones. Now, it is a perfect opportunity to invest in SeoPult entering international markets”.