Advolve, a Sao Paulo, Brazil-based company specializing in AI and Machine Learning solutions for digital marketing, has secured $1.5 million in pre-seed funding.
Investors
The funding round was led by Valor Capital and Lanx Capital, with significant participation from Verve Capital and Veredas Partners. Additionally, notable angel investors, including Felipe Oliva (Founder of Squid), Guilherme Rodrigues (Founder of Deco), Hugh Strange (former VP of Product at Nubank), Kiki Simonsen ( of RoboMindeer), Marcelo Ferronato (Founder of MediaHero), Marcello Vasconcellos (Founder of Buser), Mira Capital (the family office of the founders of VTEX), Ozden Order (former VP People at Stability AI), and Roberto Grossman (CDTO at SBT), also contributed to the round.
Valor Capital Group is an investment firm focused on Brazil and US-Brazil cross-border opportunities with a presence in New York, Silicon Valley, and Rio de Janeiro/Sao Paulo. The firm operates across two investment strategies: Growth Equity and Venture Capital.
Founded in 2001, Lanx Capital is an investment firm investing in private equity, venture capital, and real estate companies.
Advolve Use of Funds
The company will use the funds to expand its operations and strengthen its team.
About Advolve
Founded in 2023 by João Sobreira, Djary Veiga, and João Paulo Marinho Martins, Advolve provides an AI and Machine Learning-powered digital marketing platform for companies to increase gains at scale, speed, and conversion. The system automates the entire digital marketing process using artificial intelligence and machine learning, from creation to attribution – all based on data and tests. The company already has institutional partners such as Google for Startups, Open AI, AWS Startups, Microsoft for Startups Founders Hub, and NVidia Inception Program.
Funding Details
Company: Advolve
Raised: $1.5M
Round: Pre-Seed Round
Funding Month: March 2024
Lead Investors: Valor Capital, Lanx Capital
Additional Investors: Verve Capital, Veredas Partners, Felipe Oliva, Guilherme Rodrigues, Hugh Strange, Kiki Simonsen, Marcelo Ferronato, Marcello Vasconcellos, Mira Capital, Ozden Order, Roberto Grossman
Company Website: https://www.advolve.ai/
Software Category: Marketing
Source: https://www.finsmes.com/2024/03/advolve-raises-r5-7m-in-pre-seed-funding.html