ANN ARBOR, Mich.--(BUSINESS WIRE)--AdAdapted, an advertising technology solution that gets brands onto shopping lists and into carts, today announced the results of a successful 2022 fiscal year. In 2022, the company expanded its product offerings, customer roster and team, leading to a 38% increase in revenue and a number of industry recognitions.
AdAdapted innovates through new products and partnerships
AdAdapted’s success in 2022 was accelerated by product innovation and new partnerships. In 2022, AdAdapted launched eCart Accelerator, enabling consumers to add items to their digital carts in a single click, through their retailer of choice. The new solution has seen significant success in the alcoholic beverage vertical and with enterprise-size CPG brands. Additionally, the solution provider expanded its audience reach through a new partnership with Flipp, enhanced product offerings with shoppable videos and updates to AdAdapted Direct, a self-serve advertising platform, which grew more than 2,000% in 2022.
Last year, AdAdapted began integrating with its first retail partner, eGrowcery, a developer of the leading white label eCommerce platform for grocery retailers. The completion of the successful integration was announced last month and helps retailers grow their digital footprints and resulting sales. Furthermore, the partnership supports efforts by CPG brands to personalize the shopping experience, drive engagement, purchase intent and increased spend on retailers’ digital advertising platforms. In its second month, the integration has already surpassed industry benchmarks, showing a 100% cart-transfer rate for in-stock products from off property media by leveraging AdAdapted’s patented shoppable technology.
Continued growth for AdAdapted’s customers and team
Despite last year’s economic uncertainty, AdAdapted continued to demonstrate meaningful growth, allowing for continued investment in new customers and new hires. In addition to signing its first retail partner, AdAdapted also signed several new CPG customers including Nestlé Coffee-Mate, Keurig Dr Pepper, Seventh Generation and Veuve Clicquot.
To support this growth, AdAdapted strengthened its executive team with the key promotion of Nick Byrne to VP of operations along with bringing on Matt Kates to the newly created SVP of marketing role. It also expanded its physical footprint by opening a new office in Denver, Colorado – the company’s fifth location. In recognition of its ongoing commitment to its team, AdAdapted received two accolades from Purpose Jobs, the Midwest’s largest startup and tech community. AdAdapted was added to the organization's Best Place to Work in 2023 list and Molly McFarland, co-founder and CRO, was placed on the Top Founders list.
Industry recognitions highlight AdAdapted’s success
As a result of AdAdapted’s growth and dedication to innovation, the company was honored with multiple industry recognitions in 2022. For the third consecutive year, AdAdapted was included in the Inc. 5000 list highlighting the company’s significant growth. AdAdapted was also ranked on the Deloitte Technology Fast 500 – a list of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America. Additionally, AdAdapted received the Digiday Best Native Advertising Platform award. This recognition is given to the leading recommendation and native advertising platform for increasing ad revenue and user engagement.
“Last year’s accomplishments have positioned AdAdapted for continued growth in 2023,” said Mike Pedersen, co-founder and CEO, AdAdapted. “After a successful 2022, we will remain diligent in our goals and continue to invest in our company, solutions, and team. We are on track to launch multiple new product offerings this year and plan to accelerate our efforts to grow awareness, lead generation and product marketing.”
To learn more about how AdAdapted helps CPG brands, agencies and retailers, reach shoppers in store and online, visit adadapted.com.
AdAdapted is an advertising technology solution that increases purchase intent of shoppers by reaching the right consumers at the right time to get brands onto shopping lists and into carts. The company’s offerings for CPG brands, agencies and retailers range from managed-service to self-service and SaaS solutions, shopping list to eCommerce, video to display. With more than 110 million U.S. shoppers using mobile devices for their grocery lists, AdAdapted has built a distinct audience and ad offering that uses intent-based targeting, providing the easiest, most efficient way to reach active verified shoppers — exactly when they decide what to buy.