UPDATED 16:55 EDT / JUNE 06 2017


Quantifi raises $2.3 million to let brands test their ads with AI

Marketing research and development startup Quantifi wants to use artificial intelligence to change the way brands test their ads, and today the company announced that it has raised $2.3 million in seed funding to expand its platform.

The funding was led by High Alpha Capital, which co-founded Quantifi, and Router Ventures. The round also included participation by several angel investors.

Founded in Indianapolis, Quantifi uses AI to track the success of digital ads and predict the most valuable audiences to target for each campaign. According to the company, its platform not only tracks and predicts ad performance, but it also automates the creation of ads across multiple social channels by customizing image size, text and links for each service.

“Marketers are constantly asked to experiment and try new things, but are still held accountable for results,” Quantifi Chief Executive and co-founder R.J. Talyor said in a statement. “Quantifi accelerates audience and creative discovery across channels and allows marketers to quickly learn and put those learnings into practice, identifying their optimal marketing formula.”

Quantifi said its goal is to help marketers keep up in a rapidly changing digital advertising landscape. Thanks to social media, digital ads have become a multibillion-dollar industry, and they are the major source of revenue for companies like Alphabet Inc. and Facebook Inc. With so many platforms to consider, the costs involved in launching ad campaigns can add up quickly, and Quantifi wants to lower the financial risk involved by giving brands better insight into how their ads might perform at scale.

“Most marketers are doing very limited testing today, with most of it being driven by gut feel. Using Constellation, Quantifi’s proprietary data co-op, Quantifi’s machine learning algorithms are constantly coaching marketers on how to turn their marketing into a science,” said Eric Tobias, a partner at High Alpha. “I’ve worked with R. J. and his product and engineering team for many years.”

Quantifi is not the only company to turn to AI for ad insights, nor is it the first to raise major funds to do so. In February, New York-based Spotad raised $3.5 million to offer AI insights for mobile ad campaigns.

Quantifi said it will use the new funding to expand its team and further develop its platform. The company’s service has been available to a small number of clients, but it launched its platform publicly today.

Image: Quantifi

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