Midiia Raises €100K Pre-seed Investment Round from Think Bigger Capital
Marketing campaigns are specific action plans. How you set them up, launch and manage them can make you or break you, as they can either maximize the efficiency of the product or directly blow your budget and the entire strategy plan. At Midiia, they know exactly what it takes to run any marketing campaign by helping their clients leverage multiple mediums defining a clear brand experience. Demium’s partner fund Think Bigger Capital has justly caught sight of this project to grant them their first pre-seed round for €100K.
Q: Tell us about Midiia
Midiia is a platform that enables advertisers to create, launch and manage advertising campaigns on several advertising media. It’s like eDreams, the online travel agency, but for advertising; we act as an aggregator of the multiple advertising sector players which allow advertisers to work in campaigns for several media in a single platform.
Clients provide Midiia with information like budget or target audience and then our platform (powered by sector databases and artificial intelligence solutions) creates a plan for them to distribute their budget across channels (including digital, social media platforms, radio, outdoor and cinema). For example, the platform will recommend the best radio channels for a specific time slot, based on the target audience provided. As soon as the media plan is approved, our partners are in charge of the execution for each channel.
During the execution, Midiia collects all the updated information from the partners, so the clients are able to check how the development of the campaign is going in each medium.
We also offer graphic design resources and services upon client request. Similar to the radio campaign example, clients can upload a radio wedge or write a briefing on how they want the advertisement to be. This way, they create the ad with our partners, from scratch.
Q: What was it like raising a round for the first time?
Before presenting Midiia as a project, we had started a very similar one. Thanks to the advice from the Demium team, we decided to do a u-turn, changing the name of the project and our vision. This was the springboard that pushed us forward, the jumping-off point if you like that helped us get the funding we needed.
Pitching the project was tremendous. Demium did so much more than just lending a hand. They shared all their insight and expertise about areas to improve and favorable approaches. We were ready to go!
The funds raised will mainly go to platform development and team building. Thanks to the investment we have been able to put together a strong, solid team. We also want to invest in marketing as soon as our new platform is ready. Right now, we are a team of 5. Two new members have recently joined the Data Science team.
Q: What did you find investors valued most about your startup?
I think what they valued most was our capacity for change. Based on the feedback we were given, we improved dramatically within two months. This quickness and alertness is something investors have valued a great deal because in the startup words, change is the prime mover.
Q: What’s next for midiia?
We want to launch a new platform before the Christmas campaign. There’s a lot to be done in the upcoming months.
From October onwards, we are hoping to grow even more thanks to our new platform, gaining more traction quickly, and we also want to open a new funding round focuses on growth.
Funds from the first round with Think Bigger Capital have gone to development while the second round will have a growth / sales approach. Our idea is to establish ourselves in the Spanish market by the end of 2022 and start internationalizing our startup in 2023. Midiia is a scalable solution but we need to adapt to the characteristics and requirements of each market. Our biggest challenge is offline advertising.
Q: What advice would you offer other entrepreneurs looking for first round funding?
You won’t get straight “yes” at an early stage. My advice is to read between the lines, study the feedback you’ve been given and modify your project correspondingly. Listen to them, as they’ve worked ceaselessly in the startup world and have coached a great number of projects. They will definitely help you better and refine your proposal.
Q: What role did Demium play in this first investment round?
Demium’s part has been quintessential. Their team primed us remarkably well for our first investment round. They are very knowledgeable pertaining to anything related with the investors’ profile, investment rounds and funds. Demium has been the wind beneath our wings – they are the reason why our project took flight.