Adwerx Secures $3 Million in Funding to Fuel Platform Expansion and Accelerate Growth
Durham, NC, May 18, 2023 – Adwerx, the leading provider of digital advertising solutions for real estate and mortgage companies and their top producers, announces the successful completion of its latest funding round, raising $3 million. The round was led by Savano Capital Partners and Observatory Capital, with participation from existing investors Grotech Ventures, Bull City Venture Partners, and Alerion Ventures. Notably, Second Century Ventures, the National Association of REALTORS®’ strategic venture arm, also participated.
The newly secured funds will support Adwerx's strategic initiatives, including the expansion of its automated advertising platform and the fortification of its balance sheet to prepare for accelerated growth in the coming months.
"We're thrilled to have the support of the investors who know the company and the industry best," said CEO Michael Collins. “Their backing reaffirms our position as an innovator in the digital advertising space and reflects their confidence in our path forward."
The involvement of Second Century Ventures, the National Association of REALTORS®’ strategic venture arm, adds significant credibility to Adwerx's vision and strategic direction. Adwerx’s previous participation in the REACH technology growth program and continued support from SCV will enable Adwerx to leverage the association's industry expertise and vast network of professionals to further amplify its impact in the real estate sector.
“Adwerx has built significant momentum in recent months despite the softness in the real estate and mortgage industries,” said Jonathan Perl, General Partner at Observatory Capital. “With the additional capital, new management team and plans for product innovation, we are optimistic about the company's potential.”
Adwerx is an industry-leading digital advertising automation platform that provides personalized, hyper-targeted, and fully-automated digital advertising solutions for real estate and mortgage companies. Scalable for businesses of any size, Adwerx executes advertising with the power needed for large enterpripses and the simplicity expected for an individual agent.
As a trusted partner to thousands of real estate and mortgage firms and their top producers, Adwerx enables its customers to stay ahead of the competition by reaching new audiences and nurturing existing relationships. For more information about Adwerx and its suite of digital advertising solutions, visit www.adwerx.com.