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Elly Analytics, a Palo Alto, California-based marketing tech platform, has raised $1 million in seed funding, CEO Seva Ustinov exclusively tells Axios. 

Why it matters: Software tools that evaluate advertising effectiveness continue drawing funding amid the fragmentation of digital marketing and the phaseout of internet tracking cookies. 

How it works: Elly Analytics aims to reduce customer acquisition costs by providing a single marketing analytics platform for businesses. 

The platform combines data from CRM software platforms, digital ad platforms, analytics platforms and other sources. Marketers can evaluate which campaigns are working based on ad channel, ad spend, new customers and revenue.

Elly Analytics charges a monthly subscription fee, starting at $1,500 per month. The cost depends on the number of reports and features used. 

The company has worked with about 70 clients, including PressReader, Hush Blankets, Mira, Borzo and Alloy.

Context: Ustinov and Kirill Kasimskiy co-founded Elly Analytics in 2022. They had built the platform inside their previous company, ITA Digital Agency, and decided to spin it out as a separate software business.

Elly Analytics has 28 employees and operates remotely. Ustinov says he moved to the U.S. in 2023 because he viewed the scale and complexities of the U.S. ad market as providing more demand for the product. 

Ustinov says the company is close to reaching $1 million in committed annual recurring revenue.

Zoom in: Altair Capital and PTV Ventures co-led the round and were joined by angel investors including Maestra co-founders Alex Gornik and Ivan Borovikov and FINOM co-founder Kos Stiskin.

Ustinov says the funds will be put toward adding more AI capabilities and making it easier to onboard and use the platform in an effort to lower the price. 

"The end goal is you don't have to look at the data and analyze it for an hour or two. It's AI analyzing it and suggesting ... and fixing half of the problem themselves," Ustinov says.

Exclusive: Marketing tech startup Elly Analytics raises seed round

The software helps brands analyze ad campaigns.

Illustration of three megaphones increasing in size.

Marketing

Elly Analytics, a Palo Alto, California-based marketing tech platform, has raised $1 million in seed funding, CEO Seva Ustinov exclusively tells Axios. Why it matters: Software tools that evaluate advertising effectiveness continue drawing funding amid the <a class="gtmContentClick" data-vars-link-text="fragmentation of digital marketing" data-vars-click-url="https://www.axios.com/pro/media-deals/2024/06/21/retail-media-deals-cannes" data-vars-content-id="bcfbc261-5704-4ac7-8f2c-30100803db54" data-vars-headline="Exclusive: Marketing tech startup Elly Analytics raises seed round" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/pro/media-deals/2024/06/21/retail-media-deals-cannes" target="_self">fragmentation of digital marketing</a> and the phaseout of <a class="gtmContentClick" data-vars-link-text="internet tracking cookies" data-vars-click-url="https://www.axios.com/pro/media-deals/2024/06/20/first-party-data-cannes" data-vars-content-id="bcfbc261-5704-4ac7-8f2c-30100803db54" data-vars-headline="Exclusive: Marketing tech startup Elly Analytics raises seed round" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/pro/media-deals/2024/06/20/first-party-data-cannes" target="_self">internet tracking cookies</a>.

Exclusive: Marketing tech startup Elly Analytics raises seed round

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