Magfi’s AI-Driven Platform Simplifies Ad Placement Across Telegram and Discord, Reaching Over 1 Billion Users.
Magfi, a pioneering platform that enables simultaneous ad placements on Telegram and Discord, has secured $1.1 million in seed funding. The round was led by Eleven Ventures, with participation from prominent investors including Boğaziçi Ventures from Turkiye, Zoran Arsovski from Bulgaria, and Horia Manda from Romania.
Expanding Reach with AI and Machine Learning
Magfi’s cutting-edge AI and machine learning technologies empower advertisers to reach over 1 billion users across Telegram and Discord communities. These platforms, which host around 1.5 billion monthly active users, have been challenging for advertisers due to the manual process of placing ads. Magfi addresses this issue by automating the ad placement process, allowing advertisers to target the most relevant groups with precision.
Key Features of Magfi’s Platform:
- Automated Ad Placement: Streamlines the process, eliminating the need for manual ad searches.
- Advanced Targeting Algorithms: Ensures ads are displayed in the most relevant communities.
- Rich, Interactive Ads: Enhances user engagement within group chats.
Significant Growth and Future Expansion
Since its inception, Magfi has shared over 1 million ads across thousands of communities, reaching 600,000 unique daily users. The company has seen its initial revenue grow 25-fold within just one year.
Magfi’s clients include major Turkish banks, global e-commerce firms, and renowned advertising agencies. With the new investment, Magfi plans to expand aggressively, particularly in Brazil, a market of 220 million people with a 50% Telegram usage rate.
Magfi’s Expansion Plans Include:
- Team Growth: Expanding the team to support rapid growth.
- Automation: Fully automating all processes, from hiring to ad optimization.
- International Markets: Prioritizing entry into the Brazilian market.
- Product Development: Introducing Magfi Monitoring and Marketplace products.
- AI Integration: Leveraging generative AI for customized ad creatives tailored to each community.
Insights from Investors and Magfi’s Leadership
Eleven Ventures, known for its investments in unicorns like Payhawk, is leading the charge in supporting Magfi’s expansion. Svetozar Georgiev, a partner at Eleven Ventures, will join Magfi’s board to guide its growth strategy.
“Advertising in decentralized, chat-based communities is a Blue Ocean market, pioneered by Magfi. Unlike traditional social media, the dynamics here are unique, presenting both challenges and opportunities. We are excited to support Magfi’s unstoppable team on this journey,” said Georgiev.
Magfi’s co-founder and CEO, Mustafa Fikret Uğur, highlighted the shifting landscape towards Web3-based messaging and the massive potential within Telegram and Discord communities.
“With over 1 billion monthly active users on these platforms, Magfi is unlocking unprecedented advertising opportunities. This investment will solidify our position in Turkiye and kickstart our operations in Latin America. We are also focusing on enhancing our AI capabilities to create tailored ad experiences for each community,” said Uğur.
Source: Egirisim / Prepared by Irem Yildiz