Venture Capital News: Prescient AI Scores $10M Series A Financing
2024-03-12
MIAMI, FL, After more than 30x revenue growth in 2023, Prescient AI, a pioneer in AI-powered media measurement and optimization, has raised $10 million in Series A funding.
The round was led by Headline and CEAS Investments. Brands like GOOD AMERICAN, HexClad, Cozy Earth, and Nood, that use the Prescient AI platform to predict profitability and maximize revenue generated by advertising campaigns, have increased return on ad spend (ROAS) by an average of 20%. Previous investors Blumberg Capital and Focal VC also participated in the round.
Prescient AI provides media measurement and budget optimization solutions that enable omnichannel ecommerce brands to predict profitability and maximize revenue generated by advertising campaigns. Powered by proprietary machine learning models, the Prescient platform accurately attributes revenue across the entire media mix and provides daily updates and campaign-level recommendations to improve return on ad spend (ROAS) and lower customer acquisition costs. Unlike media attribution and marketing mix modeling (MMM) of the past, Prescient AI measures media halo effects to determine how campaigns indirectly impact sales and its accuracy is not affected by data-privacy restrictions or changes in the business environment. Prescient AI can connect to channels in minutes, including Shopify, Amazon, Meta, Google, Snap, TikTok, CTV, and more. Within days, the platform delivers usable insights about how much revenue each channel and campaign contributes through direct-to-consumer owned sites and the Amazon marketplace. Brands like GOOD AMERICAN, HexClad, Cozy Earth and Nood using the Prescient platform have seen an average increase in ROAS of 20%. Visit www.prescient-ai.io for more information.
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