July 12 (SeeNews) - Romanian digital marketing platform ProductLead said on Tuesday that it is entering the market in Bulgaria as part of a previously announced expansion drive, which attracted as backer Bulgarian venture capital firm Eleven Ventures.
ProductLead, which is a cloud-based user-generated content (UGC) creator, already collaborates with dozens of influencers and opinion leaders in Bulgaria, whose number it is set to grow, the company said in an emailed statement. ProductLead works with a total of some 3,000 influencers.
"User-generated content is yet to become an increasingly significant factor in digital marketing due to its ability to increase trust, speed up the purchase decision and engage the millennial crowd more effectively," ProductLead co-founder Alexander Stoica-Marku said, adding that the platform allows companies to experiment with faster marketing format creation or include pre-selected content into communication templates.
Set up in 2017, ProductLead has already attracted some 0.9 million (0.89 million euro) in funding over two rounds, which also pulled in support from Romania's Sparking Capital and Sweden's Founder's Bridge. Its most recent fundraise in April 2021 brought in 600,000 euro ($600,705) for further development and expansion, in particular in Central and Eastern Europe, Germany, Austria, Switzerland and the Nordic region.
The start-up, which employs over 20 staff, is an official marketing partner for Tik-Tok, Facebook and UK enterprise digital commerce platform VTEX.
($ = 0.9986 euro)