A year ago, they were working on an idea for business development as part of the Startup Hub Warsaw acceleration program, now they are developing further tools for automating ads on Facebook and Instagram using artificial intelligence and machine learning. The AdMonks team has just raised PLN 1.5 million for this purpose from two VC funds – Data Ventures and Kogito Ventures.
Everyone, who has encountered the e-commerce industry at least once knows that the majority of visits to the websites of online stores end up with nothing. The numbers are inexorable, as many as 98 percent. visitors, visiting online seller sites leaves them without any purchase. With this problem, encountered three entrepreneurs from Toruń – Jarosław Woźniak, Mariusz Kloc and Przemysław Zając.
– It was supposed to be a simple application that we will do in a couple of weekends – says Przemysław Zając. –
And here we are 2 years later, with a very advanced tool that makes everyday life easier for customers from around the world – he adds.
Then, the name AdMonks came to their minds meaning in Polish, the Monks of Advertising.
– Just like the monks from the Shaolin monastery, they constantly care for self-improvement, our tools help store owners constantly improve their marketing. At the beginning there was only one monk, meaning AdMonk, but by mistake when registering the name, a few of them came out – says Jarek Woźniak.
The application gives users real benefits – thanks to automation they save time, energy and tools, which can invest differently.
– Facebook’s advertising tools have become very complicated. AdMonks gives you access to this “secret knowledge”, which allows you in simple way, with a few clicks, create the most effective ads on the market – adds Mariusz Kloc.
Founders used the experience of Mariusz Kloc, who before started to develop AdMonks was already an experienced marketer. Two other co-founders, Jarosław Woźniak and Przemysław Zając, developed previously a software house. It was enough to prepare the first mvp, meaning plug-in collecting all data about people visiting e-stores. On their basis, the AdMonks tools can automatically generate ads that will track the cart abandoners and potential customers on Facebook and Instagram. Until that date, AdMonks solution has been implemented in 141 clients.
Looking for inspiration and exchange of experiences on the development of the startup, the founders of AdMonks went to the acceleration program Startup Hub Warsaw. Thanks to participation in the workshops and demo day, the startup gained investors, two VC funds – Data Ventures and Kogito Ventures.
– AdMonks combines two big trends: automation of complex business processes using AI and rapid growth of platform projects – scaling up as advanced plugins on rapidly growing ecosystems like Shopify or Atlassian. As a result, the company can grow globally from “day 0” – says Piotr Smoleń, CEO of Data Ventures.
For now, the tool can be used by the owners of e-stores operating on the Shopify platform. Plans for further development are ambitious. AdMonks wants to conquer other global e-commerce platforms, like Magento or WooCommerce.