Marketing AI startup Nexoya raises USD 5 million

15.03.2023 11:50, Morgane Ghilardi

Nexoya, which integrates digital advertising channels and connects them with their AI-based solution, announced today that it closed a Series A funding round. The startup was chosen to join the Swiss National Startup Team and participate in the upcoming Venture Leader Technology roadshow.

Nexoya has been automating and optimizing advertising budgets across channels for digital marketing since 2018. The digital advertising market is growing and becoming more dynamic: Open AI's ChatGPT is reinforcing the disruptive dynamics that AI technologies have triggered in the digital advertising industry. 

Nexoya now announced that it secured USD 5 million in a Series A financing round from BlackSheep MadTech Fund, managed by Eureka! Venture SGR, which specializes in investments in innovative marketing and advertising technology and is a leading European investor in the industry.

In 2022, Nexoya tripled its revenue and enjoyed stable monthly growth of 12.5%. The startup currently employs a total of 24 people at its offices in Zurich and Berlin. The fresh capital will secure further growth in Switzerland and Germany and enable Nexoya to expand into new markets such as Italy and the UK. They plan to expand the team to 30 people by the end of 2023.


Nexoya's team, which the startup is planning to expand this year

"Overall, we see a very dynamic digital advertising market with incredibly fast developments," asserted Marco Hochstrasser, co-founder and CEO of Nexoya. "Especially with the success of large language models like ChatGPT, with the acquisition of Xandr by Microsoft, or with new advertising channels like Amazon Ads, Apple Ads, and Walmart Ads, the digital media world has changed strongly. Automated and data-driven portfolio management for digital marketing will therefore become significantly more important. As a cross-channel budget optimizer, we are right in the middle of this with Nexoya. We ensure that our customers can keep up with this dynamic and flexibly deploy advertising budgets where the potential is greatest for them."

Nexoya combines all campaigns with the same target across all channels into one portfolio and then optimizes the budget using predictive analytics across these channels. With one click, the budget can be shifted across 40 digital advertising channels. Nexoya has been providing this solution for a wide range of marketing departments of corporate clients like Generali, Yuh, Magix, Sunrise, and Kardex. The startup has been able to significantly boost performance KPI. Thanks to the planned integration with six other channels for digital marketing, the platform's AI will have additional data to work with, making campaigns even more effective.

Mike Fuhrmann, Chief Marketing Officer at Generali Switzerland, has been working with Nexoya for three years. "We are astonished by the impact Nexoya has had on our Performance Marketing results," he stated. "Their data-driven approach has significantly increased our ROI. We see great potential for their solution in various markets and industries worldwide. With the recent investment round, I am excited to see Nexoya expand its reach and help even more businesses to reach new heights."

Nexoya was chosen to participate in the Venture Leaders Technology 2023 program, which will take ten Swiss-based tech entrepreneurs on a business development and investor roadshow in Silicon Valley in April.


Nexoya's co-founder and CEO, Marco Hochstrasser