Arcane, a London, UK-based AI co-pilot for marketers, has raised $5 million in seed funding.
SaaS Investors
The round was led by Accel, with participation from Cocoa, Firstminute Capital, Kima Ventures, and Seedcamp.
Angel investors, including Meta's VP Product for generative AI Connor Hayes, Monzo founder Tom Blomfield, Supercell CEO Ilkka Paananen, and WeWork President Anthony Yazbeck also participated in the round.
Founded in 1983, Accel is a seed and growth-stage venture capital firm that helps a global community of entrepreneurs. The firm prefers to invest in early-stage companies operating in the cloud, software as a service (SaaS), consumer, enterprise, information technology, healthcare, fintech, security, media, and business products & services sectors. The firm has additional offices in San Francisco, London, and Banglore.
Arcane Use of Funds
The funding will be used to expand Arcane's engineering and data teams and enhance the platform's AI functionalities ahead of its open beta launch later in the year.
About Arcane
Arcane is an AI-powered co-pilot for modern marketers. Arcane automates repetitive marketing tasks and offers real-time analytics and insights. The platform serves as a knowledge base for marketers, consolidating data, metrics, assets, and targeting parameters in one place. Integrating with various marketing channels, including content, organic, paid, social, and email marketing, Arcane automates routine tasks, provides real-time campaign assessment and reporting, and offers recommendations for the next steps.
Funding Details
Company: Coral Global Ltd.
Raised: €5.0M
Round: Seed Round
Funding Month: December 2023
Lead Investors: Accel
Additional Investors: Cocoa, Firstminute Capital, Kima Ventures, Seedcamp, Connor Hayes, Tom Blomfield, Ilkka Paananen and Anthony Yazbeck
Company Website: https://tryarcane.com/
Software Category: AI Marketing
Source: https://tech.eu/2023/12/14/ai-marketing-co-pilot-arcane-raises-5m-in-seed-funding/