Prescient AI, a Miami, FL-based marketing attribution platform to optimize ad spend on the privacy-first internet, announced that it raised $4.5 million in seed funding.
The round was led by Blumberg Capital, with participation from CEAS Investments and Darling Ventures, and notable DTC executives such as Troy Osinoff also participated.
The funds will be used to deploy new AI capabilities that empower marketers to confidently optimize ad spend.
"Prescient lets brands leapfrog over their competitors, who continue to rely on these fading technologies," said Prescient CEO Mike True. "Pixel-based solutions are putting a short-lived bandaid over a long-term spending problem. Prescient is creating a 'future-proof' approach to attribution, leveraging machine learning to empower marketers to make unbiased, clear-eyed decisions about how to use their marketing budgets."
The Prescient platform, which is now open to DTC brands, offers campaign-specific revenue attribution and bespoke insights, called halo effects. These insights allow users to understand how search traffic and direct visits to a brand's web store are impacted by digital spend across Facebook, TikTok, Pinterest, Snap, Youtube, and even Google's shopping campaigns, like PMAX.
In addition, Prescient AI welcomes Bruce Taragin as Board Director and Jacob Katz as a Board Observer.
Company: Prescient AI Inc.
Round: Seed Round
Funding Month: March 2023
Lead Investors: Blumberg Capital
Additional Investors: CEAS Investments, Darling Ventures, and Troy Osinoff
Company Website: https://www.prescient-ai.io/
Software Category: State-of-the-art Automation Software
About the Company: Founded by Mike True and Cody Greco, Prescient AI is developing a marketing simulation and prediction platform with artificial intelligence-powered tools that help eCommerce and direct-to-consumer companies more accurately forecast demand and optimize marketing efforts to target their most valuable customers. The Prescient platform leverages one-of-a-kind probabilistic models to enable DTC brands to confidently forecast the impact of ad spend and uncover their most effective campaigns. Built on the philosophy that consumers' privacy matters, Prescient believes marketers still deserve the ability to run effective brand advertising.