Digital advertising company Adwerx has secured funding in the amount of $14.5 million to spur expansion of its Customer Relationship Advertising platform, it was announced.
The funds were offered in a combination of equity and debt from Texas Capital Bank’s Technology Banking Group, Savano Capital Partners, and existing investors, according to a statement.
The last year has been a notable one for the Durham, NC-based technology company, considered one of the first to empower real estate agents to leverage digital display advertising for listings, recruitment and sphere of influence outreach. The company reported 70 percent growth in its enterprise services division.
“This year we will add more than 250 enterprise customers,” said Adwerx CEO Jed Carlson, in a statement. “This financing gives us more fuel to continue investing into the growth drivers of the business.”
Customer Relationship Advertising, or CRA, refers to the technology’s capability of connecting directly to clients’ CRM tools to identify and target leads with online campaigns, per agent.
“The Adwerx CRA software seamlessly integrates with existing CRM systems to automatically generate individually personalized digital ads for each member of sales, SDR, and account management teams in enterprise organizations,” the release stated.
Ads launched as part of the highly targeted and automated CRA program are designed to target each agent’s client base as they browse websites and engage with social media.
The “always-on” marketing tactic offers brokers the security of knowing their agents are keeping themselves and their listings active in the marketplace, and that adoption moves fast and requires little interaction on the part of the user.
We’re meeting face to face less often these days, but people still buy from people,” Carlson said. “Our customers find great value in how CRA keeps their salespeople or account managers in front of their prospects and clients all the time, regardless if they have a team of 10 or a team of 10,000 sales producers.”
While Adwerx offers advertising technology to companies in wealth management, insurance, law, and software, it remains a major component of the marketing plans of residential real estate agents and companies around the country.
Its advertising tools can target and sustain impressions on major internet news and mobile media sites, social media platforms under the Meta brand, and streaming media channels. In addition to helping the industry stay on top of new business leads, its tools can assist brokers in recruiting and retention efforts.
The recent financing will be used to sustain investment in its CRA products and general growth.