Polish martech startup edrone secures new funding; attracts two new investors

edrone, a Krakow-based marketing technology company, announced that it had raised an undisclosed amount of funds in the second part of the Series A funding round, doubling its valuation in twelve months.

Atmos Ventures and Müller Medien have joined existing investors like PortfoLion in the Series A expansion round. The latest funding announcement comes eighteen months after raising $5.3 million ($2.5 million in Series A and $2.8 million as a grant) in October 2020.

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Use of funds

The Polish company plans to use the funds to launch new technologies like the voice-enabled commerce product in response to new customer shopping behavior and to expand its position in several local markets.

Sami Moughrabie, Managing Partner of Atmos, will support edrone with advice on technology implementation and business strategy.

Michal Blak, CEO of edrone, says: “Over the past eighteen months, we have doubled our international customer base in local markets such as the EEC and Brazil. We want to use this momentum and take advantage of these markets by investing more. We will continue to develop voice-driven tools. We are pioneering a conversational shopping interface while our artificial intelligence experts are developing a state-of-the-art voice search engine. edrone is revolutionizing e-commerce as we know it by enabling natural voice interaction with online stores.

edrone: What you need to know

Founded in 2016 by Michal Blak and Rahim Blak, edrone is a “Plug’n’Play” marketing automation platform designed for online stores.

The platform analyzes customer behavior, processes the data, and then follows up with customers by sending personalized automated messages using artificial intelligence (AI) scripts.

The company’s customers include major European online stores as well as developing eStores. Edrone’s customers include x-Kom, Eastend, CitySport, Agent Provocateur, Tous, Wojas, Muve and more than 500 other stores.

According to edrone, it made $4.4 million (around €4.2 million) ARR (Annual Recurring Revenue) and improved the growth rate by more than 100%. Over the past five years, edrone has experienced strong growth, mainly in the CEE and LATAM markets.

Based in Krakow, Poland, edrone has offices in São Paulo and Barcelona.

Investor

Mueller Medien is a family-owned group of companies divided into five divisions: Directories, Broadcast, Print, Book and New Business. The New Business division focuses on online marketing solutions, SaaS products and marketplaces for local SMEs.

The company is a major shareholder in various companies, including pepper media NV, solute GmbH, and is an investor in Booksy, Bookingkit and Infermedica.

Michael Amtmann, Chief Investment Officer of Mueller Medien, says: “Today, the e-commerce channel has become essential for SMEs. By funding edrone, the investment arm of Mueller Medien says SMEs now need better software to drive more sales and maximize profitability.

Based in California, Atmos Venture Capital supports innovative teams solving complex scientific problems.

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