Zitcha secures VMG Partners funding to expand into America

BY Rosie Drew

October 1, 2024 12:01

Zitcha secures VMG Partners funding to expand into America

Troy Townsend and Jack Byrne

Retail media platform Zitcha has secured $15 million in funding, led by US investment firm VMG Partners, to accelerate its expansion into North America.

Australian venture capital firm OIF Ventures, which led Zitcha’s seed funding round in 2022, has also participated in the Series A round.

OIF Ventures’ contribution will help Zitcha expand by opening new offices in the US, hiring sales and customer success teams, and addressing the growing demand from retailers and brands for more advanced, data-driven advertising solutions.

VMG Partners seeks to back transformative consumer products, services, and technologies.

Zitcha currently works with leading retailers across seven countries, including Coles Group, Unilever, Fisher & Paykel, Microsoft, Lego, and Sennheiser.

Troy Townsend and Jack Byrne

Earlier this year, Zitcha entered into a strategic partnership with Axonet to leverage first-party convenience store data and retail media touchpoints across tens of thousands of North American convenience stores.

Zitcha CEO Troy Townsend said the US presents an enormous opportunity for the company.

“Our platform is uniquely positioned to help retailers and brands fully leverage the third wave of digital advertising, and as US retail media networks mature, the demand for integrated, data-driven ad solutions has never been higher.

“With this investment from VMG Partners, along with their vast experience with consumer brands and retail technology, we are excited to tap into the immense prospects America offers.”

Townsend will relocate to the US to spearhead the North American expansion.

Zitcha’s COO Jack Byrne added: “The investment from VMG Partners and OIF Ventures allows Zitcha to scale our US presence and accelerate our entry into its red-hot retail media ecosystem.”

VMG technology general partner Carle Stenmark said: “Zitcha has enjoyed impressive momentum since launching just two years ago, driving innovation in retail media, building an industry-leading retail media platform and securing partnerships with some of the world’s preeminent retailers and brands.”

Australia will remain Zitcha’s headquarters, with APAC as its platform and engineering hub.