Israel-based Addressable raised $7.5 million to make marketing to anonymous crypto users easier.
The seed round, which closed in October, was led by Viola Ventures and Fabric Ventures. North Island Ventures and Mensch Capital Partners were also among the investors, according to a statement.
Marketing in web3 can be difficult because crypto wallets are anonymized by design, which means that marketers don’t know their audience’s age, country or purchasing history. The company plans to help web3 marketers create more accurate campaigns by gathering data from social media accounts and wallets and matches the information based on similarity. This enables marketers to build more accurate audience profiles to target.
The startup collects data from a range of blockchains including Ethereum and Polygon and then indexes the blockchain and social data using big data technologies such as Apache Spark. Addressable then uses this data to build audiences and deploy machine learning models to associate profiles.
The data pipeline is secured to comply with GDPR regulations and protect user privacy, Asaf Nadler, co-founder and chief scientist at Addressable, said in an email.
“All of the above allows marketers to visit our web application, build their target in a few clicks, and upload it to Twitter in a matter of seconds — without any integration and zero-onboarding time,” Nadler said.
Currently, Addressable is using Twitter data and Twitter ads manager to provide the service. The new funds will be used to expand Addressable’s solution to include support for additional blockchains and social media integrations, Nadler said.
The startup was founded in mid-2022 and currently has 12 employees.
"We backed Addressable because they have an exceptional founding team with a compelling long-term vision – to rebuild the invasive, monopolistic adtech space from the ground up," Travis Scher, managing partner at North Island Ventures, said in an email.
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