New funds will help nexoya expand. The startup has received an investment totaling 1.4 million Swiss francs for its artificial intelligence-based solution for digital marketing campaigns. This will enable nexoya to launch in Germany this summer, before branching out to other European countries.
In a financing round, nexoya Ltd. has raised new funding of 1.4 million francs. The round was led by notable Swiss investor Thomas Dübendorfer, President of the Swiss ICT Investor Club. According to a press release, 11 existing investors participated in the financing round overall, with Zürcher Kantonalbank a new player.
Their investments will enable nexoya to expand in Germany and establish a GmbH there. From its first seed financing round in 2019, the startup has grown rapidly. Since then, it has gained major clients such as insurers Generali Schweiz and CSS Insurance as well as companies in the manufacturing industry including the Emmi Group and Kardex Holding. The startup currently has 18 employees.
“Over the past few months, we have successfully introduced our nexoya Marketing Analytics product on the Swiss market. We are now ready for the next steps,” said co-founder and nexoya CEO Manuel Dietrich in the press release. In this current climate when marketing budgets have been cut due to the pandemic and tasks brought back to be handled by in-house teams, many marketing departments face the major challenge of trying to adequately analyze various digital campaigns on different channels. According to the co-founder and CTO Marco Hochstrasser, nexoya applies artificial intelligence and machine learning in its solution to effectively evaluate and manage multi-channel campaigns.
