CitrusAd: servicing the retail world’s appetite for digital advertising
CitrusAd builds software for e-commerce retailers to integrate advertising into online shopping sites.
The Brisbane-based startup has had a very successful start to 2020. It achieved 2000% growth in the space of a single financial year. Revenues also have more than doubled to $1 million per month. CitrusAd now has offices in the United Kingdom and New York.
The COVID-19 pandemic created greater demand for online shopping. CitrusAd utilised this opportunity to help big-name retailers. They help them to determine:
- who advertises on their sites
- revenue generated
- how advertising fits with their brand
CitrusAd co-founder and CEO, Brad Moran is a former Adelaide Crows footballer. He launched the company in Brisbane in 2016. He made the decision after envying the growth rate of Amazon’s advertising platform.
The Entrepreneurs’ Programme recognised the potential of the CitrusAd platform. The Programme provided an enabling grant of $844,000. This grant was to accelerate the commercialisation of this unique self-service software for digital retailers.
CitrusAd works as a scalable advertising software model. It allows the e-commerce retailer total control of when, where and how often ads are shown.
Coles was one of CitrusAd’s first customers. Since then, other major clients have followed. Customers now include:
- Dan Murphy
International partnerships have also bloomed. CitrusAd now enjoys partnerships with many global retailers, including Sainsburys in the UK, and technology distributor Tech Data.
It’s been a head-spinning ride for Moran as he watches his clientele grow globally. Since 2017, the CitrusAd platform has been adopted by more than 40 global retailers in 22 countries. It has reached more than 300 million customers, with 30 billion website page views.
Recently, Moran has raised $6.5 million of new venture capital for CitrusAd. CirtrusAd seeks to rival competitors with capacity to turn retail websites into revenue-generating real estate.
COVID-19 created a lockdown lifestyle worldwide. This created a massive opportunity for CitrusAd.
“The event has turbocharged the company ten years ahead of where he thought it would be” said Brad Moran.
2020 has been a breakthrough year for CitrusAd. Just 12 months after its product launch the CitrusAd platform has been adopted by more than 36 global retailers in 22 countries, reaching millions of customers.