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The Istanbul-based Adphorus, founded by Endeavor Entrepeneurs Volkan Çağsal and Burcu Göbülük, recently received a $1 million seed investment in a round led by European angel investors and 500 Startups. The investment will support the company’s platform expansion in Western Europe and emerging markets. Adphorus is a leading performance marketing service and Facebook Marketing partner that enables performance advertisers to manage and analyze their social campaigns.
Founded in 2015, Adphorus’ SaaS offering includes marketing automation and algorithmic optimization to increase ROI for advertisers. The company works with leading e-commerce, travel and mobile companies focused on performance advertising globally. With this investment news, which also consists of institutional investors active in other ad tech companies throughout Europe, Adphorus will be able to expand its product offerings and refine its business model as it continues to grow. The company also announced that Şekip Can Gökalp, founder of mobile ad network mobilike and Adphorus investor, has joined the board of directors on behalf of the investors.
500 Startups, founded by Endeavor mentor Dave McClure, has invested over $100 million in over 50 countries over the past five years, and its portfolio includes several global leaders, like Ipsy. Adphorus is a further expansion to the company’s portfolio, and Sean Percival, 500 Startups Partner, said, “We’re excited to work with Adphorus, who has already proven to be a leading ad platform and Facebook marketing solution. This is my first investment into a Turkish company, and 500 Startups is continuing to look into the region for great opportunities like this.”
Volkan Çağsal, Adphorus CEO and founder, said: “We are committed to creating the best performance marketing platform on Facebook and help our clients achieve a higher ROI. We’re thrilled to have our seed investors and 500 Startups on board, further enabling us to expand our capabilities on Facebook and increase our presence in the global markets.”
Read more about the news in Reuters.
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