The CreativeX AI-powered creative analytics platform raised £ 20 million in investment.
The Series B funding came from Guggenheim Investments, on behalf of some clients, with the participation of Beringea, the Brandtech group and Conviction.
The platform, used by the likes of Nestlé, Facebook and PepsiCo, measures the efficiency, consistency and impact of marketing and advertising content.
Launched in 2015, CreativeX technology is now used by over 30 of the world’s largest advertisers, fueling creative decision making across 5,000+ brands, 1,000+ agencies and 130+ markets.
The funding will be used to “boost” its growth in a number of key areas.
Having previously rebranded Picasso Labs, CreativeX was founded in 2015 by CEO Anastasia Leng, a serial entrepreneur and former Google executive. You have offices in London and the United States.
Leng said, “This funding round, by far the largest in CreativeX history, is a testament to the impact our technology can have on the advertising industry, not just reducing the more than $ 10 billion in wasted spending on creatives that are not set to succeed, but also bringing a layer of data to help marketers make creativity more accessible, more representative, and better for long-term brand growth.
“Marketers are waking up and recognizing their creativity for what it is: an important untapped competitive advantage to drive media efficiency and long-term brand growth. CMOs are responding to overwhelming research into the impact of creativity by launching Centers of Creative Excellence and rebuilding their insights and production capabilities to scale content production in a data-driven way. “
Evan Cummins, growth investor at Guggenheim Investments, said: “CreativeX is committed to solving the industry’s most complex problem: how to optimize the creative element to create effective marketing. We are thrilled to support CreativeX as it shapes the rapidly evolving space of data-driven creative excellence. “
£ 20 million investment to ‘boost’ the growth of the analytics platform
Source link £ 20 million investment to ‘boost’ the growth of the analytics platform