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Sunday, October 1, 2023

Lithuanian 20-year-old entrepreneur’s startup raises €120K to bring influencer marketing into the digital age

Founded by Tomas Vasiliauskas, Lithuanian marketing automation tool Agenic received €120K from an angel investor. The startup offers a data-driven approach to creating and managing user-generated content campaigns. The funding will be invested in the development of the platform. Tomas first worked on building a blockchain startup but had to give up since the partner-investor didn’t have time to invest in the business. Now, with his business partners at the startup Agenic, they are targeting to reduce the workload in influencer marketing.

Lithuanian marketing automation tool Agenic attracted 120,000 euros of investment

A marketing automation tool for digitizing influencer marketing Agenic received 120,000 EUR of investment from an angel investor. Data-driven solutions used by the startup allow to reduce manual and administrative work by up to 80%, which cuts costs by up to 20 times. It also speeds up the release of campaigns, and allows businesses to easily expand to other markets with influencers.

Agenic,  Tomas Vasiliauskas“We won’t deny that attracting the investment was a hard quest requiring heaps of effort and consistent work. However, knowing what you must do and having a team of professionals backing you up enables you to succeed”,– says CEO and Co-Founder of the startup Tomas Vasiliauskas.

The team started to actively work with businesses and agencies a year ago. The idea of the startup came to the team from a professional experience – they wanted to figure out a way to turn influencer marketing into something more down-to-earth, more easily controlled, and more stable.

“Influencer marketing isn’t exactly new, but the channel itself is still in the digital stone age compared to other marketing channels. As a result, influencer marketing is viewed as risky, undefined, and highly unpredictable. It is also quite hard to evaluate a campaign’s success and find a creator that truly matches the brand’s or product’s values”,– says T. Vasiliauskas.

According to him, Agenic is much more cost and time efficient tool than hiring a marketing agency to do the job for you. It is also more fair and transparent, allowing businesses to take back control of their marketing – there is no need to be a marketing expert to work with this platform.

The closest future plan of the startup is to start fulfilling obligations to their customers who, up until now, were on the waitlist for the product, and to continue expanding the functionality of the platform.

“Those already working with us can expect a new and unique functionality on our platform to be launched very soon. It will provide new opportunities for businesses to guide existing digital audiences into conversions and collect Zero Party Data from social media networks. This will be a significantly more effective and cheaper way to reach a digital audience on social networks than paid advertising.” says T. Vasiliauskas.

Click here to read more funding news.

Nurcin Metingil
Nurcin Metingil
A permanent student, a passionate first reader and nowadays doing master’s degree in Publishing Management. Beside these, I am up for games! I have been playing games since I was 6. Now, I am whispering "Business. Business. Numbers. Is this working?"

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