Adtech software company Cartelux has announced that TEN13, an Australian venture capital firm and the Queensland Government through Queensland Investment Corporation (QIC), have both invested in the Sunshine Coast-based company.
This post-Seed investment of $3 million will support the company's continued growth and further development of its innovative software solutions for the advertising industry, as well as expansion into additional categories.
Cartelux’s target market includes global brands with geographically spread retail networks or franchisees, requiring localised marketing campaigns to reach their customers. Cartelux was founded in 2020 by entrepreneur Joshua Williams to simplify digital advertising.
Cartelux offers an automated marketing platform that manages the relationship between big brand owners and its downstream local retail partners, enabling improved marketing efforts.
The company has invented software that allows advertisers to target and optimise their ad campaigns with unparalleled precision and efficiency.
Currently, the company has gained strong adoption in the global automotive industry, with brands like Ford, BMW, Nissan, Toyota, Renault, Honda, and Mini utilising the Cartelux product around the world.
Joshua Williams, CEO and founder of Cartelux, said working with TEN13 and QIC from its global headquarters in Queensland is an honour.
"Their expertise and support will be invaluable as we continue to expand our platform and reach new markets," said Williams.
"We are excited to team up with TEN13, QIC and additional investors like Tractor Ventures to form a leading global SaaS business founded in Australia. This team also gives us an experienced and professional starting point for future funding rounds.”
Stew Glynn, managing partner, TEN13 and recent board member of Cartelux as part of this investment round, said the company is excited to partner with Cartelux and support its vision of transforming the adtech industry with innovative software solutions for brands and the underlying franchisees.
"Cartelux is driving remarkable results for brands, cementing their position as a leading platform for centralised digital marketing across large networks. We also see tremendous growth opportunities beyond the Automotive Industry," he said.
Queensland treasurer and minister for trade and investment, Cameron Dick, said the Queensland Government’s investment will support the expansion of Cartelux’s sales, engineering, and product teams on the Sunshine Coast.
“Helping companies like Cartelux take the next step in growing their business is exactly why our Government established the Enterprise Acceleration Fund," he said.
"Taking a simple solution to a global scale is a big step, but Cartelux have demonstrated the Queensland ingenuity that deserves our backing, through the Queensland Investment Corporation.”
The Cartelux software allows automating and regionally tailoring the ad creation, approval, and media buying processes across local, national, and international retail networks.
Online and social media channels have become instrumental in building brand awareness and fostering customer relationships through compelling content and interactive campaigns while ensuring brand compliance around the globe.
Advancements in data analytics and AI enable Cartelux clients to leverage customer insights and personalise marketing efforts, ensuring more relevant and targeted messaging.
Former Audi global head of media and now global head of marketing and partnerships at Cartelux, Kristin Harder, said creating and managing digital marketing for global brands is a time and cost-consuming process.
"Setting up, personalising, localising, and launching a digital ad campaign for retail networks at scale is resource intensive and complex with a single campaign taking weeks to bring to market," she said.
"Once onboarded, brands and retail networks can use the Cartelux platform to create professional, brand compliant, and hyper-local digital marketing campaigns in just 60 seconds.”
In the first quarter Ford Motors Thailand dealerships which had not previously invested in digital marketing created a total of 234 hyperlocal campaigns on search, display, and YouTube.
Running campaigns in tandem between Ford Thailand and its dealer network outperformed siloed activity by a factor of three.
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