South African Adtech startup Adbot raises $500k funding round

South African online advertising solution startup, Adbot, has announced it secured $500k capital funding from Enygma Ventures to help it expand its user base.

Adbot was launched in 2019 to support the growth of SMEs by empowering small business owners with simple and supportive tools to access new markets.

Adbot leverages its machine learning and automation to create a Google Ads account to set up adverts for clients, all in record time.

Adverts created by Adbot are managed by the startup on an ongoing basis, with effectiveness increasing as more is learned about the client’s industry.

“Adbot has a really solid product and tech stack so, with this funding, we will focus on growing our user base. We will be reaching out to every small business owner in South Africa as a start, from the braai shack in Gugulethu to the unique investment company in Sandton. If you have a business, you need Google Ads to be found and Adbot is the most cost-effective and efficient way to do this,” said chief executive officer (CEO) Michelle Geere.

Enygma Ventures operating partner Lelemba Phiri also commented on the funding.

“Having worked with SMEs on the continent for over a decade, we are keenly aware of their challenges, with market access being chief among them. Adbot’s potential in solving this issue for small business owners in Africa is immense and exciting,” she said.

The funding will be used to grow Adbot’s customer base.