Total amount raised
$96 Millions
Latest funding date
10/01/2017
Location
Persado has successfully raised funds through multiple rounds, with its last funding type being debt financing. The company is backed by notable investors, including Silicon Valley Bank and Omega Venture Partners.
Persado's Motivation AI platform offers generative AI solutions for hyper-personalized communications, delivering significant value to large brands across various industries. Keep reading to explore the intricacies of Persado's fundraising journey and the investors backing this innovative platform.
What Is Persado?
Persado, founded on December 12, 2012, is headquartered in New York, New York. The company was established by Alex Vratskides, Assaf Baciu, and Guy Krief.
Specializing in AI-driven marketing language generation, Persado's Motivation AI platform generates, optimizes, and personalizes marketing language at scale. The platform serves various industries, including financial services, retail & eCommerce, travel & hospitality, and telecommunications.
With a workforce of 251-500 employees, Persado leverages AI and machine learning to create emotionally engaging, on-brand content that enhances customer engagement and conversion rates.
How Much Funding Has Persado Raised?
- Debt Financing
- Amount Raised: $30M
- Date: October 2017
- Lead Investors: Silicon Valley Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and expand the company's AI capabilities.
- Series C
- Amount Raised: $30M
- Date: April 2016
- Lead Investors: Goldman Sachs
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and expand Persado's technology and market reach.
- Series B
- Amount Raised: $21M
- Date: January 2015
- Lead Investors: StarVest Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance Persado's automated copywriting technology and expand its customer base.
- Series A
- Amount Raised: $15M
- Date: February 2013
- Lead Investors: Bain Capital Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of Persado's AI-driven marketing platform.
Total Amount Raised: $96M. Current Valuation: Not publicly disclosed.
Key Investors
- Silicon Valley Bank
- Details: Silicon Valley Bank is a high-tech commercial bank that provides a range of financial services to companies of all sizes.
- Investment Focus Areas: Technology, life sciences, healthcare, private equity.
- Notable Investments: Not publicly disclosed.
- Goldman Sachs
- Details: Goldman Sachs is a leading global investment banking, securities, and investment management firm.
- Investment Focus Areas: Financial services, technology, healthcare, consumer products.
- Notable Investments: Uber, Facebook, Spotify.
- StarVest Partners
- Details: StarVest Partners is a venture capital firm focused on technology-enabled business services.
- Investment Focus Areas: SaaS, cloud computing, data analytics.
- Notable Investments: NetSuite, MessageOne, Veracode.
- Bain Capital Ventures
- Details: Bain Capital Ventures is a venture capital firm that invests in seed to growth-stage companies.
- Investment Focus Areas: Fintech, healthcare, enterprise software, infrastructure software.
- Notable Investments: LinkedIn, DocuSign, Jet.com.
- American Express Ventures
- Details: American Express Ventures is the venture capital arm of American Express, investing in innovative startups.
- Investment Focus Areas: Innovative startups, financial services, customer experience enhancement.
- Notable Investments: Stripe, Bill.com, Trulioo.
What's Next for Persado?
Persado stands at the cusp of significant growth opportunities, driven by its innovative AI-driven marketing language platform. The technology's potential to expand beyond marketing into areas like mobile health and other persuasive communication sectors presents a vast market. With major companies like Citi and American Express already showing interest, the commercial applications are substantial.
Future fundraising seems promising, given the successful past rounds and the involvement of high-profile investors. As Persado continues to grow, additional funding rounds could support further technological advancements and market expansion. However, challenges such as maintaining the balance between automation and human-like creativity, and the need for a large consumer audience, could pose hurdles.
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