Alembic, the leading holistic marketing attribution platform for enterprises, today announced it received $14 million in series A funding. The round was led by WndrCo, the venture capital firm started by DreamWorks founder Jeffrey Katzenberg. Existing investors MXV Capital, the venture capital firm started by Braze founder Mark Ghermezian, and Liquid 2 Ventures, the venture capital firm started by Joe Montana, also participated in the round.
Alembic will use the funds to enhance its engineering capabilities, broaden its product range and accelerate client acquisition.
Alembic’s software predicts revenue and ROI from marketing, applying AI and mathematics developed during the pandemic for identifying causes, treatments and mortality in disparate data and populations. Alembic analyzes and evaluates unstructured and complex data to predict marketing ROI and future revenue based on the results. Alembic is proud to have Fortune 200 and top brands as customers, including NVIDIA, Texas A&M and North Sails.
Justin Wexler, who led the investment for WndrCo and joins Alembic’s board of directors, said, “At WndrCo, we continually ask Fortune 500 CMOs about their top challenges. The most common response is around proving the effectiveness of marketing spend. Our investment in Alembic is the culmination of our search for a company that solves this problem. We are looking forward to partnering with Alembic’s brilliant team to bring the power of AI and cutting-edge statistics to the marketing organizations behind the world’s leading brands.”
Using only anonymous and privacy-respecting aggregate data, Alembic accurately models marketing results and proves quantitatively how value is generated by marketing and sales activity. Alembic provides a real-time view to optimize all marketing activity and sales funnel movement. The Alembic platform leverages unstructured data from TV, radio, social media, out-of-home, sponsorship and digital marketing to predict revenue and profit for its customers. The visibility and transparency of marketing spend and outcomes facilitates reporting, informs strategy and breaks down silos between marketing, finance and business operations.
“Our customers say, before Alembic, what they used to evaluate marketing was like an ultrasound that only looked at one part of the body. Alembic is like a full body MRI scan that shows you a holistic view with much greater detail and precision,” said Tomás Puig, Alembic co-founder and CEO.
“Deploying AI allows companies to increase productivity in ways not possible before,” said Jensen Huang, founder and CEO of NVIDIA. “Alembic is using AI developed for scientific research applications to predict ROI from marketing. NVIDIA marketing is using Alembic with great success.”
“Alembic has a breakthrough solution for a problem I’ve seen throughout my career: Measuring results from marketing initiatives. WndrCo is thrilled to lead the series A round for Alembic and enable the company to introduce its innovative solution to a wider audience. All enterprise marketing organizations should consider Alembic to solve this problem in marketing,” said Jeffrey Katzenberg, founding partner, WndrCo.
“In sports and in business, it’s difficult to predict outcomes, but Alembic enables enterprises to accurately predict revenue and ROI from all the components of their marketing mix. For this reason, Liquid 2 Ventures is proud to invest in Alembic. We believe that Alembic will be a winner along with its customers in applying the most advanced mathematics and AI available for predicting marketing ROI,” said Joe Montana, managing director, Liquid 2 Ventures.
“MXV Capital invests in Alembic because its novel, unique, quantitative approach helps enterprises understand which actions and plans from marketing drive the most value. Using AI and mathematics developed during the pandemic for identifying causes, treatments and mortality in populations, Alembic analyzes unstructured and complex structured data to predict revenue and ROI from marketing and improve planning strategy. It’s a great example of how AI initially developed for epidemiology can be applied to predict and help improve business outcomes,” said Mark Ghermezian, founder and general partner, MXV Capital.
“Alembic enables me, for the first time, to show what impact to the organization our marketing dollars today will have on future revenue. Our most recent success has been around time to event analysis — an AI modeling solution initially applied in healthcare. We are leveraging Alembic to guide finance on which marketing spend will provide the most ROI with accuracy,” said Aristomenis Capogeannis, senior director, enterprise revenue marketing, NVIDIA.
“With a plethora of content and proliferation of channels, marketers are constantly faced with choices. Alembic’s AI-driven correlation engine not only provides confidence in decision-making, but delivers return on intelligence and investment for enterprises like NVIDIA, Texas A&M and North Sails,” said Laura Maness, Alembic independent board director and global CEO, Grey.
For more such updates, follow us on Google News Martech News