Adspert, a bid management tool that helps companies make more money out of Google AdWords, has secured an undisclosed seven-figure investment from the Investitionsbank Berlin (IBB) through its ProFIT program. The platform allows users to optimise and automate their AdWords accounts, with the startup claiming on its website that it can lead to a 20 percent increase in profit and enormous time saving.
The new funding will be put towards improving the Adspert technology as well as developing new features to make it easier to use, according to CEO Marcel Pirlich.
Adspert works as a forecasting technology for search engine marketing – it uses recognised forecasting models as well as factors such as which time of day it is to identify the most profitable bid for both search and display ads. These are the two kinds of adverts which companies bid to use on Google AdWords: Depending on how much you bid and how high your Quality Score is, your ad appears when specific terms are searched for, or on partner websites with relevant content.
With Adspert, all available keywords are managed and optimised at least five times a day to produce the 20 percent increase in performance.