Pixis, the AI-powered platform that helps brands monitor and orchestrate their marketing campaigns, has announced that it has raised $85 million in a Series C1 funding round. The funding was led by Touring Capital, with participation from Grupo Carso, General Atlantic, Celesta Capital, and Chiratae Ventures. This brings the total amount raised by Pixis to $209 million. The funding comes at a time when marketers are increasingly interested in leveraging AI to enhance their advertising efforts and improve productivity.
Key Takeaway
Pixis, an AI-powered marketing platform, has raised $85 million in a Series C1 funding round. The company has experienced impressive growth, reaching $50 million in annual recurring revenue and serving over 200 brands. Pixis’ platform focuses on targeting, creative, and performance, leveraging AI to optimize marketing campaigns. The funding will be used to support R&D, expand infrastructure, and build strategic partnerships.
Expanding Customer Base and Revenue Growth
Pixis has reported impressive growth, reaching an annual recurring revenue of $50 million this quarter. The company has also expanded its customer base, now serving over 200 brands including DHL, Joe & The Juice, Sears, and Swiggy. With a year-over-year growth of 140% in 2023, Pixis expects to achieve profitability in the fourth quarter.
Pivoting Towards AI-Powered Marketing
Pixis was originally focused on researching generative AI for creating art and model assets for games. However, realizing the potential of AI in marketing, the company pivoted to build a full-stack marketing platform. This platform enables brands to generate marketing assets, target customers dynamically, and monitor campaign performance in real-time.
The Three Pillars of Pixis
Pixis’ platform is built on three core pillars: targeting, creative, and performance. In terms of targeting, Pixis uses AI to identify and convert audiences for brands’ campaigns. On the creative side, Pixis can generate texts, images, and emails. When it comes to performance, Pixis offers automated ad bid and budget pacing tools to mitigate the impact of short-term fluctuations and seasonality.
Customized Learnings and AI-Powered Insights
Each brand that works with Pixis receives customized learnings based on their unique data and objectives. These learnings support Pixis’ automation and creation tools and are delivered back to the brand as insights and strategies. By training their AI engines on a brand’s performance data, Pixis enables brands to optimize their budgets, find target audiences, and generate creative assets more effectively.
