Madrid-based OrbitalAds, founded in 2016, was the recent recipient of €3 million funding from the European Commission’s Horizon 2020 programme. This type of financing, the first of its kind, will see the European Commission enter into a partnership with the receiving companies.
The financing is carried out through the EIC Fund of the European Investment Bank (EIB), and concerns a two-year project which has been recognized for its ability to innovate, its value proposition, and the attraction of talent within the EU that it will generate.
Spanish startup OrbitalAds has developed the only solution in the world capable of optimizing any search engine marketing campaign developed in Google Ads. This optimization, both automatic and in real time, results in maximizing budget spent on the campaign. To do this, it uses Natural Language Processing (NLP) technology based on Machine Learning (ML), which analyzes and processes thousands of keywords in different languages and adds hundreds of variables automatically. In this way, it manages to optimize a process that has been carried out manually for the past 19 years.
The funding granted by the European Commission will be used for the improvement of OrbitalAds software and the creation of its PaaS platform (Platform as a Service). The grant will be used to adapt activities developed for Google Ads to other search engines, such as Amazon, Facebook or Yahoo. This will expand the accessible market size up to €7 billion. In addition, this business plan will involve the generation of new qualified jobs.
Bill Murphy, co-founder of OrbitalAd, says: “This news is another great step towards achieving a dream. Three years ago, we started this adventure with the desire to apply the latest advances in technology in a sector where we could make a difference. Step by step, we have been growing thanks to clients and investors and, now, having received the trust of Europe and having the EIC Fund trust us is an unparalleled challenge and honor.”
