Accelerating Growth in the North American Retail Media Market
Unified retail media platform Zitcha has secured A$15 million (US$10 million) Series A funding, led by US investment firm VMG Partners, to accelerate growth in the booming North American retail media market.
Investment Backed by VMG Partners and OIF Ventures
Australian venture capital business OIF Ventures, which raised Zitcha’s seed funding round in 2022, has also invested in the Series A round which will supercharge Zitcha’s plans to open new offices in the US, hire sales and customer success teams, and meet the growing demand from retailers and brands for more sophisticated, data-driven advertising solutions.
Zitcha’s Strategic Expansion Amid Retail Media Boom
VMG Partners seeks to back transformative consumer products, services, and technologies. The investment marks VMG Technology’s – the firm’s stage-agnostic venture arm – first in an Australian business, and aligns with its strategic focus on transforming the retail landscape.
Marketing Tech Insights: Sitecore Recognizes Visionary Marketing and Technology Teams for Excellence
Addressing US Retail Media Network Needs
The expansion comes as US retail media revenues are forecast to grow to US$110-120 billion by 2027 according to the Boston Consulting Group, and US retail media networks are demanding integrated in-store and offsite advertising capabilities; evolving from managed to self-service models; and seeking joint business planning functionality. Zitcha’s platform aims to address these requirements, enabling retailers to monetise every transaction.
Zitcha’s Global Footprint and Strategic Partnerships
Zitcha currently empowers leading retailers across seven countries including Coles Group (Australia), The Warehouse Group (New Zealand) Peavey Mart (Canada) Leroy Merlin (South Africa) and is trusted and relied on by global brands including Unilever, Fisher & Paykel and Microsoft, Lego and Sennheiser.
Earlier this year Zitcha entered into a strategic partnership with Axonet to leverage first party convenience store data and retail media touchpoints across tens of thousands of North American convenience stores (C-store).
Key New Partners and Technological Advancements
British online retail giant Ocado is the latest major retailer to join the Zitcha platform, becoming the first to leverage its latest iteration including new business planning tools.
Marketing Tech Insights: Zitcha Accelerates US Expansion with Account Executive Hire, Spencer Swaney
Leadership Insights and Vision for US Expansion
Troy Townsend, Co-Founder and CEO, Zitcha, said: “The US presents an enormous opportunity for Zitcha. Our platform is uniquely positioned to help retailers and brands fully leverage the third wave of digital advertising and as US retail media networks mature, the demand for integrated, data-driven ad solutions has never been higher. With this investment from VMG Partners, along with their vast experience with consumer brands and retail technology, we are excited to tap into the immense prospects America offers.”
VMG Partners’ Perspective on Zitcha’s Growth
VMG Technology’s General Partner, Carle Stenmark said: “Zitcha has enjoyed impressive momentum since launching just two years ago, driving innovation in retail media, building an industry-leading retail media platform and securing partnerships with some of the world’s preeminent retailers and brands. Troy and Jack have built a talented team of specialists and pursued a scalable program of global expansion. Their ambition and deep expertise in retail media made them an ideal match for us. We look forward to supporting the business and helping drive its US acceleration.”
Scaling Operations for a Strong US Presence
Jack Byrne, Co-Founder and Zitcha Chief Operating Officer, added: “The investment from VMG Partners and OIF Ventures allows Zitcha to scale our US presence and accelerate our entry into its red hot retail media ecosystem. The region represents an important growth opportunity for us. As a proudly Aussie founded business, we are excited to bring our ongoing commitment to ensuring all our retailer and brand partners receive the best of what we have to offer, including excellent service, to this new region.”
Troy Townsend will relocate to the US to spearhead Zitcha’s North America expansion. Australia will remain as Zitcha’s headquarters with APAC as its platform and engineering hub and Jack Byrne will continue to manage Zitcha operations outside of the US.
Marketing Tech Insights: Stagwell Named Global Lead for Creative Campaigns and Social Content at Adobe
For media inquiries, you can write to our MarTech Newsroom at news@intentamplify.com
