Melbourne, Australia – Retail media platform Zitcha is set to expand its operations in North America after securing $15 million Series A funding led by US investment firm VMG Partners.
The funding will help Zitcha open new offices, hire more staff, and meet the growing demand for data-driven advertising solutions.
As it backs companies with transformative products and services, VMG Partners’ investment marks its first in an Australian business. Australian venture capital firm OIF Ventures also participated in the Series A funding round.
The expansion is prompted by Boston Consulting Group’s forecast of US retail media revenues reaching $110-120 billion by 2027. Zitcha also aims to address retailers’ demand for integrated in-store and offsite advertising capabilities, self-service models, and joint business planning functionality.
Zitcha works in seven countries with top retailers, including Coles Group, The Warehouse Group, Peavey Mart, and Leroy Merlin. Major brands like Unilever, Fisher & Paykel, Microsoft, Lego, and Sennheiser also rely on Zitcha.
Zitcha recently teamed up with Axonet to use convenience store data and advertising opportunities in North American convenience stores. British online retailer Ocado has also joined the Zitcha platform.
“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,” Troy Townsend, co-founder and CEO of Zitcha, said.
Carle Stenmark, general partner at VMG Technology, 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.”
“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. But while the US is an obvious important growth opportunity, Australia, New Zealand and other key territories in Europe and Asia remain a priority. We are a proudly Aussie-founded business and are committed to ensuring retailers and brands continue to receive the best of what we have to offer and the level of service they have come to expect,” Jack Byrne, co-founder and Zitcha chief operating officer, added.
Townsend is set to relocate and spearhead Zitcha’s expansion in North America. Meanwhile, Byrne will continue to manage Zitcha operations outside of the US.
